The London Mayor’s green fund could lose millions of pounds of taxpayer’s money after an EV company backed by Sadiq Khan went into administration.

Breathe secured more than £3m in funding from the Energy Efficiency Fund (MEEF) some 15 months ago

Breathe, which supplied electric vehicles on subscription to private hire drivers, secured more than £3m in funding from the Energy Efficiency Fund (MEEF) some 15 months ago, according to Sky News.

But the business collapsed into administration last week and insolvency practitioners from Begbies Traynor were appointed.

MEEF was set up by the Greater London Assembly in 2018 to provide debt and equity to small business-owners.

A spokesperson for the mayor told Sky News: “The mayor’s Energy Efficiency Fund is the largest of its kind in the UK and has already invested in 17 projects across London mobilising over £380m of investment, which is expected to save over 38,000 tonnes of CO2 and nearly 40m kwh of energy.

“MEEF’s original investment of £3.2m in Breathe represents less than 1% of the total funding mobilised by the fund to date.”

They added: “The mayor is aware that Breathe has recently entered administration.

“The appointed administrators are working with all parties to complete a sale of the business and if needed realise assets to enable the debt to be repaid.”

Begbies Traynor confirmed that it’s been appointed as administrator but declined to make an official comment.