Scottish Enterprise et al. back Lux Assure

The funding will support the company's redevelopment into a service provider for the oil and gas industry, with products Comic and Ommica forming the core of the company post-investment.

Scottish Enterprise invested through the Scottish Venture Fund, operated by the Scottish Investment Bank (SIB). The venture arms of ConocoPhillips and Statoil Technology Invest, as well as Archangel Informal Investment, also participated in the round.

Archangel and SIB have supported the business since 2010, convinced by the company's potential in the oil and gas sector. They have invested £0.8m in the business prior to the current round.

Company
Based in Edinburgh and founded in 2001, Lux Assure specialises in delivering chemical monitoring technologies for offshore and onshore use. The company's products include technologies for monitoring scale, corrosion and hydrate inhibitors in both water and hydrocarbons. The business is a division of Lux Innovate Limited.

People
Andy Laing is an investment executive at Archangels. Kerry Sharp is the acting head of SIB. 

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