UCLouvain spinout Xylowatt has declared bankruptcy after failing to build a market for its technology to convert biomass into energy.

Xylowatt, a Belgium-based renewable energy technology developer spun out of Université catholique de Louvain (UCLouvain), has collapsed under an increasing debt pile, according to L’Echo. The company declared bankruptcy on January 25 after the spinout’s outgoings had become unsustainable. Its debt reached a total of nearly €5m ($6m) against just $728,000 of cash in hand…

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