Participated · Equity · Mar 2026

Celtic Renewables operates Scotland’s first biorefinery, a commercial demonstrator facility in Grangemouth that has been running since 2023. Using a patented Acetone-Butanol-Ethanol (ABE) fermentation technology, the company upcycles waste streams such as whisky by-product pot ale and rejected potatoes into high-value bio-chemicals: bio-acetone, bio-butanol, and bio-ethanol. Management reports that the demonstrator has validated the scalability and commercial viability of the process, effectively de-risking future projects. With fresh capital, Celtic Renewables plans to develop a £120 million industrial-scale biorefinery at Grangemouth that will offer ten times the output of the current plant. The envisioned expansion is expected to create skilled jobs and reinforce Scotland’s low-carbon industrial strategy. No revenue or production volume figures were disclosed in the article.

Led · Equity · Apr 2024

Smart Green Shipping (SGS) develops and supplies wind-assisted propulsion technology aimed at helping the commercial shipping industry reduce fuel use and greenhouse-gas emissions. Positioned as a “wind-as-a-service” provider, the company focuses on practical, near-term solutions that can be retrofitted to large sections of the existing global fleet. The firm’s model addresses growing regulatory and market pressure on ship operators to decarbonise operations. SGS is currently seeking additional capital to accelerate commercial deployment of its technology. Its latest funding initiative has garnered interest from both existing backers and new investors, signalling increasing confidence in wind-assisted propulsion as a viable decarbonisation tool. Financial or operating metrics such as revenue, installed units, or fleet partnerships were not disclosed in the article.

Led · Grant · Nov 2023

Trojan Energy builds patented ‘clutter-free’ on-street EV chargers that sit flat and flush with the pavement and deliver charging speeds up to 22kW. The company also developed a ‘DEICER’ system to alert drivers when a charger and bay become available. Launched in 2016, its technology is designed to serve the roughly nine million UK households without a driveway. Trojan has an active rollout programme, recently partnering with Barnet council to install around 1,300 charge points and reporting a strong pipeline of opportunities across the UK, including projects tied to the LEVI fund. Management says the company plans to deploy several thousand more chargers to serve tens of thousands of customers. The business has raised funding totalling over £41 million to date. Trojan Energy builds a clutter-free, flat and flush on-street charging system that allows EV owners without driveways to charge from pavement-installed points. The company was founded by former oil and gas engineers who are applying that expertise to clean-energy hardware. Funding from the Scottish Government via Scottish Enterprise will support on-shoring more manufacturing to Scotland and accelerate R&D and technology development. The current support contributes toward a broader £2 million project to scale development, research new products and expand the workforce. Trojan is positioning its technology for wider deployment and international expansion while addressing on-street charging cost and accessibility challenges. The company’s work is framed as part of Scotland’s transition to net zero and growing a domestic low-carbon manufacturing base. Trojan Energy develops a flat-and-flush on-street EV charging system that delivers up to 22kW via lances connected to roadside charging points. Its design keeps pavements clear by routing power through underground ducts to cabinets located up to 100m away that can supply 15 charging units at once. Founded in 2016 by Ian Mackenzie, Hugh Mackenzie, Ashley Thomson and Sandy Thom, the company has launched trials in the London Borough of Brent and planned up to 150 charging points for Brent and nearby Camden. With the UK target market worth over £1 billion, Trojan intends to use funding to move to volume manufacturing, shrink cabinet size, reduce costs and broaden commercial applications and charging options. The company aims to be the de facto on-street charging solution in the UK by the end of 2023 and to make EV charging accessible to households without driveways. The fundraising will support rolling out more charge points, improving the technology and growing the team. Trojan Energy develops compact 'flat and flush' on-street EV charging points intended to fit into curb space without sacrificing pedestrian areas. Vehicle owners carry a portable charging 'lance' that plugs into the connector point to begin charging. The company aims to remove a major barrier to urban EV uptake for drivers who lack driveways and plans a follow-on driveway product that eliminates posts or wall boxes. Trojan intends to install the first 200 units in Brent and Camden Councils by early 2021 and, longer term, to export to Europe, India and China. Financially, it has secured a £4.1m funding package comprising £1m in equity investment which unlocks a further £3.1m from Innovate UK to support rollout. The team draws on Oil & Gas sector expertise and is partnering with industry, energy suppliers and councils to accelerate urban EV adoption.

Led · Grant · Feb 2022

Valneva is developing a Covid-19 vaccine named VLA2001. Its Scottish unit has received a $27 million grant from the Scottish government to fund R&D of manufacturing for VLA2001. The reported funding is described as a grant to support manufacturing research and development. The article does not provide timelines, production-capacity details, or operating metrics such as revenue or users. No other financings or investor participation are mentioned in the provided text. The item appears in a roundup and the fuller article is behind a sign-up prompt, limiting additional publicly available details. Valneva SE commercializes travel vaccines IXIARO/JESPECT (Japanese encephalitis) and DUKORAL (cholera/ETEC) and advances multiple vaccine candidates, including programs for Lyme disease and chikungunya. The company has operations in Austria, Sweden, the United Kingdom, France, Canada and the U.S. and employs close to 500 people. Valneva completed Phase 2 patient recruitment for its Lyme program at the end of September and expects to report primary endpoint data mid‑2020. Management confirmed a mid‑term intention to list on Nasdaq, subject to shareholder approval, to co‑fund late‑stage development of the Lyme program. The company announced a debt financing to support advancement of its pipeline and to repay existing debt. Guggenheim Securities served as financial advisor and Dechert LLP as legal advisor in the transaction. Valneva develops and commercializes vaccines for infectious diseases with major unmet needs. Its commercial portfolio includes IXIARO/JESPECT for the prevention of Japanese encephalitis and DUKORAL for the prevention of cholera and, in some countries, ETEC-related diarrhea. The company has multiple vaccines in development, including unique candidates against Lyme disease and chikungunya. Valneva operates in Austria, Sweden, the United Kingdom, France, Canada and the US and has approximately 480 employees. The company announced a drawdown of €10 million from an existing European Investment Bank loan to support R&D and advance its clinical development-stage assets. Including this tranche, Valneva has drawn down €20 million of the €25 million facility and does not intend to draw the remaining €5 million. Valneva is a fully integrated, commercial-stage biotechnology company focused on developing and commercializing vaccines. The company markets two traveler vaccines: IXIARO®/JESPECT® for Japanese encephalitis and DUKORAL® for cholera and some ETEC-related diarrhea. Its proprietary pipeline includes candidates against Clostridium difficile and Lyme Borreliosis, and it leverages technology platforms such as the EB66® cell line and the IC31® adjuvant. Valneva pursues financial returns through focused R&D investments and growing contributions from its commercial products, aiming for financial self-sustainability. The company is listed on Euronext-Paris and the Vienna stock exchange and operates in France, Austria, Great Britain, Sweden, Canada and the US with over 400 employees. Valneva is a fully integrated vaccine company focused on development, manufacture and commercialization of preventive vaccines. Its commercial portfolio includes two traveler vaccines: IXIARO/JESPECT for Japanese encephalitis and DUKORAL for cholera (and ETEC-related diarrhea in some countries). The company advances proprietary candidates including programs against Clostridium difficile and Lyme Borreliosis and leverages platforms such as the EB66 production cell line and the IC31 adjuvant. Valneva planned to enter its Lyme Borreliosis vaccine into Phase I in 2016 and is conducting preclinical R&D on a Zika vaccine candidate. Financially it is moving toward EBITDA break-even, intends to fund a substantial part of R&D from commercial product cash flows, and targets R&D spending of 15–20% of revenues. The company reports approximately 400 employees and is listed on Euronext Paris and the Vienna stock exchange.

Participated · Seed · Nov 2019

Stampede (formerly BLACKBX) builds online tools for offline businesses, with a core Wi‑Fi based customer engagement and marketing analytics product. Its first product offers a branded Wi‑Fi login portal and an Instagram‑style “Stories” service to display short videos or landing pages to customers on arrival. The platform also provides post-visit automated email and SMS campaigns and tools to prompt loyal customers to leave reviews soon after visits. Venues can track campaign results, return visits, dwell time and offer usage; the Wi‑Fi product is currently used by over 800 venues. Led by founder and CEO Patrick Clover, the company plans to use new funding to grow its team, expand its sales remit and continue developing its suite of services. Stampede is based in Leith, Scotland.