So after some success with a couple of Terastations at work, I decided to dig out my own broken unit, hoping to get it up and running.
Unfortunately it is a much worse problem than the units at work. It boots up to error E06. TFTP MODE.
I followed this guide, which explains how to set up an TFTP server, but unfortunately the machine wont fetch the files.
Pinging to the IP address given on the Terastation LCD screen returns no results.