£375,000 top up from bank
Further funding for mapping firm Ecometrica
Clydesdale Bank has topped up an initial loan for £622,000 to the Edinburgh-based company, whose services include satellite mapping.
The company recently won a £14.2 million contract to join the Forests 2020 project, helping developing countries manage and protect tropical forests.
It is spearheading an international consortium that brings together many of the world’s leading experts on forest monitoring.
The Ecometrica Platform will help to monitor more than 300 million hectares of tropical forests across Ghana, Kenya, Indonesia, Brazil, Mexico and Colombia.
Chris Kennedy, an associate director at Clydesdale Bank, said: “It’s been fantastic to see Ecometrica’s progress since our last deal and to be part of their journey for a second time.
“We’re excited to see a technology company thrive in Scotland, particularly one which is set to play a significant role in protecting vital rainforests.”
Adrian Smith, CFO at Ecometrica, said: “We’re really pleased to have Clydesdale Bank’s support for a second time. Their first loan has been instrumental in our recent success and this second boost will enable us to continue our growth at a fast pace.”