Carbon Dynamic, or CLDB Limited, specialised in the design and manufacture of bespoke timber modular buildings, designed to be low-energy, highly-insulated and constructed from locally-sourced materials.

The Highland firm worked in partnership with Albyn Housing Society and NHS Highland to develop the pioneering ‘Fit Home’ concept that delivered smart homes which enabled people to live safely and independently in their own homes.

Carbon Dynamic also manufactured eleven homes for the Social Bite Village in Edinburgh, which aims to provide a low-cost, safe living environment for people currently living in temporary accommodation and shelters.

The company had invested around £1.3 million in research and development to develop its bespoke timber modular buildings since its inception in 2012, and grew its turnover to £3m in the year to May 2018.

Its turnover was expected to reach £6m by May 2019, but the company ran into trading and cashflow difficulties as it was nearing completion of a major project for the construction of 78 modules.

At the time of the appointment, the business employed 42 people at its leased facilities in Invergordon. Following the appointment, 40 employees have been made redundant.

Blair Nimmo and Geoff Jacobs of KPMG were appointed as joint administrators on Thursday.

Two staff members have been retained to assist administrators as they seek offers for the firm’s business and assets, which principally comprise substantial amounts of intellectual property, part-complete modules, order and customer books, equipment and raw material stock.

Administrator Mr Nimmo, global head of restructuring at KPMG, said: “Unfortunately, Carbon Dynamic was unable to continue trading in light of challenging conditions and significant cashflow difficulties. This has, in turn, resulted in the redundancies which have been announced.

“We will be working with all affected employees and the relevant government agencies to ensure a full range of support is available. We are rapidly exploring the possibility of securing a sale of the company’s business and assets and would encourage any interested parties to contact us as soon as possible.”