Liquid air developer Innovatium raises funds
Innovatium, a Glasgow-based company focused on reducing the carbon impact of industrial processes, has secured more than £900,000 from investors to commercialise its liquid air battery technology.
Investment syndicate Kelvin Capital led the funding round alongside Scottish Enterprise.
CEO Simon Branch said: “The synergies brought from the Scottish manufacturing and technology space will enhance the value delivered to our clients in this exciting new phase of company growth.”
The Kelvin Capital syndicate, led by directors John McNicol and Angus Hay, represents more than 300 private investors in the UK, Europe and the US.
Mr McNicol said: “Clean Technology has been at the forefront of the private equity sector for a number of years now, exacerbated further by 2021’s COP26 events in Glasgow.”
Kerry Sharp, director of growth investments at Scottish Enterprise, added: “The technology being developed by Innovatium will play a hugely important role in Scotland’s drive towards a net zero carbon emissions economy.”
Innovatium, formed in 2017 by co-partners Simon Branch and Dr Adrian Alford, has a design office in Oxfordshire.