The funding comprises private sector backing alongside a grant from Scottish Enterprise to advance maritime decarbonisation.
"Scotland’s decision to support this project shows that wind technology has the might of a maritime nation behind it. Shipping has a long history of harnessing the power of wind, but digital technologies are allowing us to work towards making zero emission vessels a reality. Smart Green Shipping’s FastRig wing sail technology offers a financially and technically robust solution to help support shipping’s green transition."
The grant funding from the Advanced Propulsion Centre will support the development of the UK's first major battery cell manufacturing facility.
"This is great news for our plans to construct the UK's premier battery cell Gigaplant in Northumberland. While the overwhelming majority of investment for the project will come from private sources, the ATF's grant funding is very important in proving that the UK Government is confident that we will deliver on our plans, and this will help to generate further private investment. It's a clear indicator of the Government's policy towards electrification of society in the Race to Zero"
Molten Ventures led the seed round for the London based sustainability startup, with backing from Norrsken and several angel investors.
"We’ve seen a big shift towards businesses embracing the ‘carbon accounting’ space. Whilst this is a helpful tailwind, inaccurate data sets and a resulting lack of granular calculation, leads to generic emission factors that can leave organisations open to charges of greenwashing. We, at Altruistiq, are focused on fiving businesses the data engineering tools to better understand their actual impact, whilst also enhancing their credibility on sustainability."
The funding will support team growth and product development for energy storage and electric vehicles.
"As we grow our climate and clean energy platform, investing in Brill Power is an exciting move into energy storage technologies that are crucial to enable an increase of renewables on the power grid, electrification of transport, and to power our homes, businesses and key infrastructure. Through extended lifetimes, improved safety, and waste reduction, Brill Power’s work is setting a new standard for how to store and use clean power to accelerate progress to our net zero emissions goals."
— John Bromley, Managing Director - Clean Energy Strategy
The investment round was led by 24Haymarket to support the company's growth plans and product expansion.
"This new investment is testament to what we have achieved so far at Hypetex and I’m excited about the future with Neil and Nick involved at the core of the company. The composites market is growing at a rapid pace and we are well-positioned to accelerate the use of our coloured advanced materials and be a key part of that as we develop exciting new product streams for the sector."
