Scottish Enterprise is Scotland's primary economic development agency, functioning as a non-departmental public body of the Scottish Government. Established in 1991 and based in Glasgow, it aims to enhance Scotland's economic landscape by fostering an innovative and productive economy with a strong international presence. The agency collaborates with both public and private sectors to identify and leverage opportunities for sustainable economic growth. It supports small and medium-sized enterprises (SMEs) by connecting them with appropriate funding sources, facilitating access to finance, and assisting in management and growth strategies. Scottish Enterprise specifically targets sectors such as food and drink, creative industries, financial services, renewable energy, healthcare, and biotechnology. Additionally, it partners with various investors, including business angels and venture capitalists, to strengthen the funding landscape for Scottish businesses, ultimately contributing to the broader objectives outlined in its business plan.
Managing Director of Scottish Development International and Group Head of Strategy and Technology
Susan Armes
Senior Investment Manager
Past deals in Renewables
Heero Technologies
Convertible Note in 2024
Heero Technologies is a company that focuses on enhancing energy efficiency in residential properties. It provides a comprehensive platform that simplifies the energy retrofit process for homeowners, offering personalized recommendations to improve home energy performance. The company addresses common challenges associated with energy retrofits, such as the disruption caused by invasive measures and the complexities of financing options. By enabling lenders and installers to better differentiate their services, Heero Technologies facilitates the adoption of renewable technologies in privately owned homes, ultimately aiming to reduce emissions and create a more streamlined user experience in energy improvements.
ULEMCo
Venture Round in 2024
ULEMCo Limited is a company based in Liverpool, United Kingdom, that focuses on retrofitting hydrogen hybrid combustion technology for commercial vehicles. Established in 2014, ULEMCo specializes in converting diesel transit vans and other heavy-duty vehicles to operate on a hydrogen-diesel mix, thereby promoting a transition to cleaner fuel alternatives. The company also conducts research and development aimed at creating zero-emission hydrogen engines and fuel cell vehicles, which include specialized applications such as ambulances, fire engines, and refuse trucks. By advancing hydrogen technology, ULEMCo aims to support the automobile industry in reducing air pollution and enhancing environmental sustainability.
Trojan Energy
Venture Round in 2024
Trojan Energy Limited, established in 2016 and headquartered in Stonehaven, United Kingdom, specializes in providing innovative charging infrastructure solutions for electric vehicles. The company focuses on the development of on-street flat and flush charging points, addressing the challenges faced by vehicle owners who lack access to off-street parking. This system allows drivers to park their vehicles in available street spaces and utilize an on-street charging lance, thereby enhancing the convenience and practicality of electric vehicle usage. Trojan Energy aims to support the widespread adoption of electric vehicles by ensuring that charging options are accessible to all, regardless of their parking situation.
Mocean Energy
Venture Round in 2023
Mocean Energy, founded in 2015 and based in Edinburgh, United Kingdom, specializes in developing innovative technologies that harness wave energy to promote a transition to a zero-carbon future. The company focuses on an energy converter that enhances the generation and utilization of electricity from renewable sources. This converter drives a power take-off mechanism that transforms kinetic energy from ocean waves into electricity. As a result, Mocean Energy enables customers to access reliable and affordable renewable energy to power various subsea applications, including control systems, remotely operated vehicles, and autonomous underwater vehicles.
Heero Technologies
Seed Round in 2023
Heero Technologies is a company that focuses on enhancing energy efficiency in residential properties. It provides a comprehensive platform that simplifies the energy retrofit process for homeowners, offering personalized recommendations to improve home energy performance. The company addresses common challenges associated with energy retrofits, such as the disruption caused by invasive measures and the complexities of financing options. By enabling lenders and installers to better differentiate their services, Heero Technologies facilitates the adoption of renewable technologies in privately owned homes, ultimately aiming to reduce emissions and create a more streamlined user experience in energy improvements.
Recycl8
Grant in 2023
Recycl8 is a company focused on transforming incinerator bottom ash (IBA) into a sustainable concrete solution, collaborating with the waste-to-energy and construction industries. By converting IBA, which is typically sent to landfills, into a low-carbon alternative for concrete production, Recycl8 aims to significantly reduce carbon emissions associated with traditional concrete manufacturing. This innovative process not only supports concrete manufacturers in lowering their carbon footprint but also contributes to broader climate goals. The company emphasizes its commitment to social and environmental responsibility while addressing the pressing need for sustainable construction materials.
Exergy3
Grant in 2023
Exergy3 is an energy storage company that increases energy efficiency and reduces carbon dioxide emissions from industrial processes. It is a spinout from the University of Edinburgh.
Carbogenics
Seed Round in 2023
Carbogenics Ltd is a company based in Edinburgh, United Kingdom, specializing in the development and production of sustainable fertilizers and bio-additives. Established in 2016, Carbogenics has created an innovative process that transforms disposable coffee cups and other non-recyclable paper waste into a carbon-rich material, known as CreChar. This product serves as a carbon additive that enhances biogas production in anaerobic digestion and improves plant growth, ultimately benefiting farmers by increasing crop yields and profitability. In addition to its product offerings, Carbogenics also provides consultancy and analytical services to operators in the anaerobic digestion and wastewater treatment sectors, addressing customer inquiries through various communication channels.
Heero Technologies
Seed Round in 2023
Heero Technologies is a company that focuses on enhancing energy efficiency in residential properties. It provides a comprehensive platform that simplifies the energy retrofit process for homeowners, offering personalized recommendations to improve home energy performance. The company addresses common challenges associated with energy retrofits, such as the disruption caused by invasive measures and the complexities of financing options. By enabling lenders and installers to better differentiate their services, Heero Technologies facilitates the adoption of renewable technologies in privately owned homes, ultimately aiming to reduce emissions and create a more streamlined user experience in energy improvements.
ETZ
Grant in 2023
ETZ is a pioneer in the field of net zero energy transition and a net exporter of goods, services, technology, and expertise.
RAB Microfluidics
Series B in 2022
RAB Microfluidics specializes in diagnosing early signs of failure in lubricated machinery, such as gearboxes in wind turbines and engines in the mining industry, using its patented microfluidic technology and artificial intelligence. The company has automated the lubricating oil analysis process, enabling real-time delivery of critical data that identifies equipment deterioration and potential failures. This innovation aims to revolutionize maintenance practices by enhancing equipment reliability and availability through early diagnosis. RAB Microfluidics targets various industries, including maritime, renewable energy, aerospace, and manufacturing, with the goal of facilitating a transition to condition-based and predictive maintenance strategies. By providing intelligent insights and data-driven automation solutions, RAB Microfluidics seeks to improve asset condition management while significantly reducing costs.
MiAlgae
Series A in 2022
MiAlgae Ltd, founded in 2016 and based in Edinburgh, United Kingdom, specializes in producing microalgal products aimed at replacing fishmeal in livestock feeds. The company focuses on creating nutrient-rich microalgae, which are high in omega-3 fatty acids and proteins essential for aquaculture and other livestock. By utilizing wastewater remediation in their production process, MiAlgae implements a circular economy approach that lowers operating costs and enhances sustainability. Their innovative methodology not only provides a viable alternative to traditional fishmeal but also supports more sustainable practices in the livestock feed industry, which is valued at £340 billion globally.
Innovatium is a technology company dedicated to advancing renewable energy solutions. The company specializes in inventing, developing, and commercializing equipment and processes designed to lower the carbon intensity of existing systems. By leveraging expertise and innovation, Innovatium aims to create energy-efficient technologies that significantly reduce the carbon footprint of its clients. This focus on sustainability enables businesses to incorporate a higher proportion of renewable energy into their energy mix, contributing positively to environmental conservation efforts.
Mocean Energy
Seed Round in 2022
Mocean Energy, founded in 2015 and based in Edinburgh, United Kingdom, specializes in developing innovative technologies that harness wave energy to promote a transition to a zero-carbon future. The company focuses on an energy converter that enhances the generation and utilization of electricity from renewable sources. This converter drives a power take-off mechanism that transforms kinetic energy from ocean waves into electricity. As a result, Mocean Energy enables customers to access reliable and affordable renewable energy to power various subsea applications, including control systems, remotely operated vehicles, and autonomous underwater vehicles.
Aberdeen Harbour Board
Debt Financing in 2022
Aberdeen Harbour Board operates as a key maritime transportation and logistics hub, primarily serving the oil and gas industry, as well as renewable energy, freight, cruise, and ferry services. It offers a range of facilities designed to support the needs of these sectors while ensuring the highest safety standards and environmental care. The organization focuses on providing value-added solutions that aim to reduce risks and lower project costs for its customers. Through its commitment to sustainability and operational excellence, Aberdeen Harbour Board strives to create a vibrant port that fosters economic prosperity and supports the development of an environmentally friendly maritime environment.
Trojan Energy
Venture Round in 2022
Trojan Energy Limited, established in 2016 and headquartered in Stonehaven, United Kingdom, specializes in providing innovative charging infrastructure solutions for electric vehicles. The company focuses on the development of on-street flat and flush charging points, addressing the challenges faced by vehicle owners who lack access to off-street parking. This system allows drivers to park their vehicles in available street spaces and utilize an on-street charging lance, thereby enhancing the convenience and practicality of electric vehicle usage. Trojan Energy aims to support the widespread adoption of electric vehicles by ensuring that charging options are accessible to all, regardless of their parking situation.
Trojan Energy
Series A in 2021
Trojan Energy Limited, established in 2016 and headquartered in Stonehaven, United Kingdom, specializes in providing innovative charging infrastructure solutions for electric vehicles. The company focuses on the development of on-street flat and flush charging points, addressing the challenges faced by vehicle owners who lack access to off-street parking. This system allows drivers to park their vehicles in available street spaces and utilize an on-street charging lance, thereby enhancing the convenience and practicality of electric vehicle usage. Trojan Energy aims to support the widespread adoption of electric vehicles by ensuring that charging options are accessible to all, regardless of their parking situation.
ULEMCo
Venture Round in 2021
ULEMCo Limited is a company based in Liverpool, United Kingdom, that focuses on retrofitting hydrogen hybrid combustion technology for commercial vehicles. Established in 2014, ULEMCo specializes in converting diesel transit vans and other heavy-duty vehicles to operate on a hydrogen-diesel mix, thereby promoting a transition to cleaner fuel alternatives. The company also conducts research and development aimed at creating zero-emission hydrogen engines and fuel cell vehicles, which include specialized applications such as ambulances, fire engines, and refuse trucks. By advancing hydrogen technology, ULEMCo aims to support the automobile industry in reducing air pollution and enhancing environmental sustainability.
Arcola Energy
Grant in 2021
Arcola Energy is a leader in hydrogen and fuel cell integration, specializing in zero-emission solutions for heavy-duty vehicles and transport applications.
RAB Microfluidics
Venture Round in 2021
RAB Microfluidics specializes in diagnosing early signs of failure in lubricated machinery, such as gearboxes in wind turbines and engines in the mining industry, using its patented microfluidic technology and artificial intelligence. The company has automated the lubricating oil analysis process, enabling real-time delivery of critical data that identifies equipment deterioration and potential failures. This innovation aims to revolutionize maintenance practices by enhancing equipment reliability and availability through early diagnosis. RAB Microfluidics targets various industries, including maritime, renewable energy, aerospace, and manufacturing, with the goal of facilitating a transition to condition-based and predictive maintenance strategies. By providing intelligent insights and data-driven automation solutions, RAB Microfluidics seeks to improve asset condition management while significantly reducing costs.
Mocean Energy
Seed Round in 2020
Mocean Energy, founded in 2015 and based in Edinburgh, United Kingdom, specializes in developing innovative technologies that harness wave energy to promote a transition to a zero-carbon future. The company focuses on an energy converter that enhances the generation and utilization of electricity from renewable sources. This converter drives a power take-off mechanism that transforms kinetic energy from ocean waves into electricity. As a result, Mocean Energy enables customers to access reliable and affordable renewable energy to power various subsea applications, including control systems, remotely operated vehicles, and autonomous underwater vehicles.
Sunamp
Series A in 2020
Sunamp is a company that provides industrial and residential heat battery storage systems using phase change materials. Its heat battery technologies are cost-effective, highly compact, stable, non-toxic, and IoT-enabled and are designed to provide a clean and efficient thermal energy storage solution. It was founded in 2006 by Andrew Bissell and is headquartered in Macmerry, East Lothian, Scotland.
Sunamp
Venture Round in 2020
Sunamp is a company that provides industrial and residential heat battery storage systems using phase change materials. Its heat battery technologies are cost-effective, highly compact, stable, non-toxic, and IoT-enabled and are designed to provide a clean and efficient thermal energy storage solution. It was founded in 2006 by Andrew Bissell and is headquartered in Macmerry, East Lothian, Scotland.
Trojan Energy
Seed Round in 2020
Trojan Energy Limited, established in 2016 and headquartered in Stonehaven, United Kingdom, specializes in providing innovative charging infrastructure solutions for electric vehicles. The company focuses on the development of on-street flat and flush charging points, addressing the challenges faced by vehicle owners who lack access to off-street parking. This system allows drivers to park their vehicles in available street spaces and utilize an on-street charging lance, thereby enhancing the convenience and practicality of electric vehicle usage. Trojan Energy aims to support the widespread adoption of electric vehicles by ensuring that charging options are accessible to all, regardless of their parking situation.
MiAlgae
Seed Round in 2020
MiAlgae Ltd, founded in 2016 and based in Edinburgh, United Kingdom, specializes in producing microalgal products aimed at replacing fishmeal in livestock feeds. The company focuses on creating nutrient-rich microalgae, which are high in omega-3 fatty acids and proteins essential for aquaculture and other livestock. By utilizing wastewater remediation in their production process, MiAlgae implements a circular economy approach that lowers operating costs and enhances sustainability. Their innovative methodology not only provides a viable alternative to traditional fishmeal but also supports more sustainable practices in the livestock feed industry, which is valued at £340 billion globally.
CuanTec
Venture Round in 2019
CuanTec are a Scottish based blue biotech company making compostable, antimicrobial bioplastic from waste of the fisheries industry, providing an environmentally responsible alternative to polluting packaging. CuanTec are using a circular economy solution where waste from processing of the fisheries industry is put to good use. Cuantec extracts chitin from marine waste, langoustines caught in the pollution free waters of the North Atlantic. Our chitin is obtained biologically, thanks to harmless bacteria, in a low-energy process with minimal wastage, and at a high yield providing a very high-quality product. Our chitosan is obtained thanks to an innovative sustainable process, using less energy and 5 time less sodium hydroxide than the current chemical process.
Sunamp
Series A in 2018
Sunamp is a company that provides industrial and residential heat battery storage systems using phase change materials. Its heat battery technologies are cost-effective, highly compact, stable, non-toxic, and IoT-enabled and are designed to provide a clean and efficient thermal energy storage solution. It was founded in 2006 by Andrew Bissell and is headquartered in Macmerry, East Lothian, Scotland.
Cyclotricity
Grant in 2018
Cyclotricity is a British company that specializes in the design and manufacture of electric bicycles and conversion kits. Known for producing the UK's best-selling electric bike conversion kit, Cyclotricity offers a diverse range of battery-powered bicycles that cater to various designs and technical specifications. The company emphasizes eco-friendly transportation solutions, making it suitable for regular commutes. All motors used in their products are handmade, highlighting the company's commitment to quality craftsmanship.
Dukosi
Venture Round in 2018
Dukosi Ltd specializes in the design, development, and manufacturing of battery management systems, primarily targeting the automotive industry. Founded in 2003 and located in Edinburgh, United Kingdom, the company offers advanced cell sensor products for hybrid, plug-in hybrid, and electric vehicles, as well as electric bicycles and mobility vehicles. Dukosi's innovative solutions enable real-time monitoring of individual battery cell performance, enhancing the health and longevity of battery systems. Their products also contribute to the efficiency of smart grids, providing reliable and renewable energy solutions for various applications, including transport networks and residential use.
Kite Power Systems
Venture Round in 2017
Kite Power Systems, founded in 2011 in Burnham-on-Crouch, Essex, UK, specializes in developing an innovative solution for harnessing wind energy through a twin-kite system. This technology aims to provide a reliable and efficient means of generating clean energy at a utility scale, significantly reducing costs compared to traditional wind turbines while utilizing 85 percent less material. The company’s kite arrays can be deployed both onshore and offshore, making them suitable for locations where conventional wind energy systems are impractical. By offering a sustainable alternative, Kite Power Systems seeks to reduce dependency on fossil fuels and mitigate the impacts of climate change. The technology is supported by extensive testing and development, as well as funding from the UK Department of Energy and Climate Change Energy Entrepreneurs Fund and various private investors.
Dukosi
Series A in 2017
Dukosi Ltd specializes in the design, development, and manufacturing of battery management systems, primarily targeting the automotive industry. Founded in 2003 and located in Edinburgh, United Kingdom, the company offers advanced cell sensor products for hybrid, plug-in hybrid, and electric vehicles, as well as electric bicycles and mobility vehicles. Dukosi's innovative solutions enable real-time monitoring of individual battery cell performance, enhancing the health and longevity of battery systems. Their products also contribute to the efficiency of smart grids, providing reliable and renewable energy solutions for various applications, including transport networks and residential use.
CuanTec
Seed Round in 2016
CuanTec are a Scottish based blue biotech company making compostable, antimicrobial bioplastic from waste of the fisheries industry, providing an environmentally responsible alternative to polluting packaging. CuanTec are using a circular economy solution where waste from processing of the fisheries industry is put to good use. Cuantec extracts chitin from marine waste, langoustines caught in the pollution free waters of the North Atlantic. Our chitin is obtained biologically, thanks to harmless bacteria, in a low-energy process with minimal wastage, and at a high yield providing a very high-quality product. Our chitosan is obtained thanks to an innovative sustainable process, using less energy and 5 time less sodium hydroxide than the current chemical process.
Synaptec
Seed Round in 2016
Synaptec Ltd. specializes in developing and deploying advanced photonic sensing systems that leverage existing optical fiber networks to enhance the monitoring of electrical networks. Founded in 2014 and based in Glasgow, United Kingdom, the company offers innovative solutions that measure critical parameters such as voltage, current, temperature, and vibration over long distances and at multiple locations, all using a single optical fiber. This technology helps reduce electrical power transmission costs by minimizing outages, preventing circuit damage, and decreasing the need for civil works. Synaptec's systems provide significant benefits to electricity network operators and society, including cost savings, improved security of energy supply, and lower emissions. Through its patented technologies, Synaptec aims to maximize the stability of power networks and facilitate the integration of renewable energy sources.
QED Naval
Venture Round in 2016
QED Naval Limited is a technology developer based in Edinburgh, United Kingdom, specializing in the marine renewable energy sector. Founded in 2008, the company focuses on the development and support of tidal energy solutions, prominently featuring its tidal platform, Subhub, which is designed to assist in the deployment of tidal turbines. In addition to providing integrated systems, QED Naval offers consultancy services in naval architecture, CAD design, structural assessments, and loading analysis for wind, wave, and tidal energy. The company also plays a crucial role in the development of infrastructure necessary for marine renewables, including port facilities, quays, breakwaters, and pontoons, thereby enhancing the deployment and maintenance of marine energy systems.
Dukosi
Venture Round in 2015
Dukosi Ltd specializes in the design, development, and manufacturing of battery management systems, primarily targeting the automotive industry. Founded in 2003 and located in Edinburgh, United Kingdom, the company offers advanced cell sensor products for hybrid, plug-in hybrid, and electric vehicles, as well as electric bicycles and mobility vehicles. Dukosi's innovative solutions enable real-time monitoring of individual battery cell performance, enhancing the health and longevity of battery systems. Their products also contribute to the efficiency of smart grids, providing reliable and renewable energy solutions for various applications, including transport networks and residential use.
Sunamp
Seed Round in 2015
Sunamp is a company that provides industrial and residential heat battery storage systems using phase change materials. Its heat battery technologies are cost-effective, highly compact, stable, non-toxic, and IoT-enabled and are designed to provide a clean and efficient thermal energy storage solution. It was founded in 2006 by Andrew Bissell and is headquartered in Macmerry, East Lothian, Scotland.
QED Naval
Seed Round in 2015
QED Naval Limited is a technology developer based in Edinburgh, United Kingdom, specializing in the marine renewable energy sector. Founded in 2008, the company focuses on the development and support of tidal energy solutions, prominently featuring its tidal platform, Subhub, which is designed to assist in the deployment of tidal turbines. In addition to providing integrated systems, QED Naval offers consultancy services in naval architecture, CAD design, structural assessments, and loading analysis for wind, wave, and tidal energy. The company also plays a crucial role in the development of infrastructure necessary for marine renewables, including port facilities, quays, breakwaters, and pontoons, thereby enhancing the deployment and maintenance of marine energy systems.
Dukosi
Venture Round in 2014
Dukosi Ltd specializes in the design, development, and manufacturing of battery management systems, primarily targeting the automotive industry. Founded in 2003 and located in Edinburgh, United Kingdom, the company offers advanced cell sensor products for hybrid, plug-in hybrid, and electric vehicles, as well as electric bicycles and mobility vehicles. Dukosi's innovative solutions enable real-time monitoring of individual battery cell performance, enhancing the health and longevity of battery systems. Their products also contribute to the efficiency of smart grids, providing reliable and renewable energy solutions for various applications, including transport networks and residential use.
Spark Energy
Venture Round in 2014
Spark Energy Limited is a UK-based energy supplier that provides electricity and gas primarily to residential tenants and rental agents. Established in 2006 and headquartered in Selkirk, the company specializes in offering renewable energy sourced from various means, including wind, bio-energy, bio-mass, anaerobic digestion, energy crops, and hydroelectric power. By collaborating with letting agencies, Spark Energy aims to simplify the process of setting up energy services for tenants, ensuring a seamless transition to sustainable energy solutions.
Dukosi
Venture Round in 2014
Dukosi Ltd specializes in the design, development, and manufacturing of battery management systems, primarily targeting the automotive industry. Founded in 2003 and located in Edinburgh, United Kingdom, the company offers advanced cell sensor products for hybrid, plug-in hybrid, and electric vehicles, as well as electric bicycles and mobility vehicles. Dukosi's innovative solutions enable real-time monitoring of individual battery cell performance, enhancing the health and longevity of battery systems. Their products also contribute to the efficiency of smart grids, providing reliable and renewable energy solutions for various applications, including transport networks and residential use.
Dukosi
Venture Round in 2013
Dukosi Ltd specializes in the design, development, and manufacturing of battery management systems, primarily targeting the automotive industry. Founded in 2003 and located in Edinburgh, United Kingdom, the company offers advanced cell sensor products for hybrid, plug-in hybrid, and electric vehicles, as well as electric bicycles and mobility vehicles. Dukosi's innovative solutions enable real-time monitoring of individual battery cell performance, enhancing the health and longevity of battery systems. Their products also contribute to the efficiency of smart grids, providing reliable and renewable energy solutions for various applications, including transport networks and residential use.
Smarter Grid Solutions
Funding Round in 2013
Smarter Grid Solutions has become the UK's leading dedicated smart grid technology company, with offices in Glasgow, London and New York. They work with a growing number of large power companies and utilities in the UK, mainland Europe and the US, running smart grid projects for both rural and urban electricity grids. Smarter Grid Solutions creates and delivers technologies cdesigned to help electricity distribution companies to integrate Distributed Energy Resources (DER). They are pioneers of Active Network Management, a new approach to grid management which uses software, automation and control to manage grid connected DER in real time.
Dukosi
Venture Round in 2012
Dukosi Ltd specializes in the design, development, and manufacturing of battery management systems, primarily targeting the automotive industry. Founded in 2003 and located in Edinburgh, United Kingdom, the company offers advanced cell sensor products for hybrid, plug-in hybrid, and electric vehicles, as well as electric bicycles and mobility vehicles. Dukosi's innovative solutions enable real-time monitoring of individual battery cell performance, enhancing the health and longevity of battery systems. Their products also contribute to the efficiency of smart grids, providing reliable and renewable energy solutions for various applications, including transport networks and residential use.
Star Net Geomatics
Venture Round in 2012
Star Net Geomatics Ltd. provides a wide range of surveying, inspection and design services to the telecommunications, renewables, civil engineering, oil and gas and nuclear sectors.
Star Net Geomatics
Venture Round in 2011
Star Net Geomatics Ltd. provides a wide range of surveying, inspection and design services to the telecommunications, renewables, civil engineering, oil and gas and nuclear sectors.
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