Innovatium, a Glasgow, Scotland, UK-based technology business company, raised £900K in funding.
The round was led by Kelvin Capital and Scottish Enterprise.
The company intend sto use the funds to continue development of its new liquid air battery technology and to scale the team to assist in the build of productionized units for identified clients.
Formed in 2017 by co-partners Simon Branch and Dr Adrian Alford, Innovatium is a technology development business developing energy efficient technologies which deliver meaningful reductions in clients’ carbon footprints.
The new technology, PRISMA, is a type of bolt-on Compressed Air System that combines energy storage and compressed air, providing users significant energy savings and hours of back-up energy storage. PRISMA reduces energy costs and carbon emissions by using its storage to end reliance on inefficient partly loaded air compressors.
PRISMA has the potential to deliver significant benefits to industrial clients across a wide range of industries from Pharmaceuticals, Food and Drink, Plastics, to Aggregates, Glass, and Automotive.
Innovatium is based in Glasgow with a design office based in Oxfordshire.
FinSMEs
21/03/2022