Deals and contracts round-up
Port of Cromarty Firth; Sunamp; Johnston Carmichael
Wind farm deal for port a “major success for the area”
£10 million contract for port
Port of Cromarty Firth has secured a £10 million assembly and storage contract from Moray Offshore Windfarm (East), known as ‘Moray East’, a 950MW offshore wind farm in the Outer Moray Firth.
The 18 month contract will provide for storage of wind turbine components, including towers, blades and nacelles, as well as pre-assembly facilities and site office facilities.
Oscar Diaz, project director, Moray East, said: “This will be hub of the project during construction.”
Bob Buskie, chief Executive of Port of Cromarty Firth added: “This is a major success for Scotland and the Highlands in particular. We have demonstrated once again that we can successfully compete with international competition and attract these major infrastructure projects to our area.
“The Port’s team worked for over two years to secure this contract for the benefit of the local area. It will attract jobs and investment for the coming years; offering countless opportunities to local people and businesses.”
Energy storage firm’s funding
Sunamp, an energy storage company, has secured £2.2 million from Scottish Investment Bank, Equity Gap, PAR Equity and a number of new investors including Japanese energy utility Osaka Gas.
This round completes the seed investment stage, positioning the company well to raise a ‘series A’ round early next year. The company plans to use the funds towards expansion of its international footprint and further scaling its operations.
Established in 2006 by technology entrepreneur Andrew Bissell, Sunamp is already a world leader in thermal energy storage thanks to a revolutionary design for heat batteries containing non-toxic phase change material.
Sunamp heat batteries have so far been installed in more than 1,000 homes across the UK.
UK Housing Associations are adopting Sunamp technology to cut fuel bills for thousands of tenants by harnessing renewable energy and storing it as heat to produce heat and hot water, with no need for a hot water tank or immersion heater.
National house builders are adopting Sunamp heat batteries in conventional gas boiler systems to save space and because they are easier and less expensive to install than hot water cylinders.
Johnston Carmichael panel appointment
Accountancy and business advisory firm Johnston Carmichael has been reappointed to the audit panel of the Pension Protection Fund (PPF).
A PPF audit panel auditor since 2013, Johnston Carmichael is now one of just four firms across the UK included on the PPF’s new panel.
The PPF protects people throughout the country who belong to defined benefit pension schemes. If an employer enters insolvency, and its pension scheme cannot afford to pay what was promised, the fund will provide pension benefits to the scheme members.
As part of its role on the Audit Panel, Johnston Carmichael has worked with a series of high-profile PPF pension scheme audits, including Hoover and Toys R Us.