Vert secures funding to ramp up sales and production
Phil Harris: ‘gratifying’
Vert Technologies, the Edinburgh-based compressor manufacturer, has raised £720,000 to boost production and sales.
The funding comes from a number of existing investors, including Par Equity, Equity Gap, Aero Den and the Scottish Investment Bank.
Vert’s new compressor incorporates a design that has been hailed as one of the biggest advances in the compressed air industry in the last 40 years.
The product range will be further extended towards the end of the year with the launch of a sub-25kg compressor model aimed primarily at the fibre optic installation market.
Development projects are also in the pipeline to extend the reach of the high-pressure Vert technology into the refrigeration market, an application for which it is ideally placed.
A new, quiet vacuum concept product, powered by the Vert Conical Rotary Compressor (CRC) technology, which is capable of continuous operation, has also now been developed.
Phil Harris, Vert’s chief executive, said the new investment is a “highly gratifying vote of confidence from investors with intimate knowledge of the progress we have been making over the past 18 months.
“With the additional funding we will be ramping up both sales and production, putting ourselves in a position to bring our exciting new products and technology to a wider audience from which we anticipate substantial take-up”.
Founded in 2013, Vert employs 15 at its Technology Manufacturing and Design Centre in Edinburgh.
The CRC technology has won multiple awards since the first working prototype was produced in 2014 and led to the company securing a prestigious government grant in 2019 from the UK Department of Business, Energy and Industrial Strategy (BEIS).