Additional funds for Aberdeen firm
Plexus raises $5m for Russian expansion
The Aim-quoted Aberdeen firm has raised the funds through a discounted share subscription which will see Russian oil and gas equipment maker Gusar take a 7% stake.
Plexus develops wellheads aimed at preventing the type of blowout which caused the 2010 Gulf of Mexico disaster.
It expects the agreement with Gusar – together with a licensing deal with fellow Russian manufacturer Konar – to help diversify its North Sea focused business.