Edge boosts team ahead of £2m funding round
Scots wind energy specialist Edge Solutions has boosted its top team in advance of a £2 million funding round.
The Dundee firm has developed a patented technology which repairs and protects the leading edge of wind turbine blades from erosion – a significant issue for operational onshore and offshore windfarms.
The firm’s product is a custom-fitted modular shield – known as Armour Edge – which has been developed in tandem with chemicals giant INEOS using a bespoke version of their ultra-tough Luran SC thermoplastic material, designed specifically for wind turbine blades.
It now has a growing order book from operational wind farms across Europe, the USA and Asia and is looking for funds to expand the team and meet demand.
Earlier this year the firm closed a £1 million EIS round though existing and new private investors and is now seeking to bring impact funds and corporate investors on board.
The company is working with a major manufacturer to explore the potential to factory-fit shields to new blades which could significantly disrupt the existing blade market by markedly reducing the ongoing maintenance requirement on operational turbines.
The new hires are Stuart MacLean, a former senior partner in M&A and corporate finance at law major CMS, who becomes head of corporate development, and Richard Scullion, ex global marketing director for Palla Pharma, who is head of business development.
“The business is growing much faster than expected,” says Richard. “Leading edge erosion is a major issue for wind farm operators and we are now getting second and third orders from our early customers including RWE and Offshore-Windpark Riffgat GmbH.