UNQUOTE

UK - LCA provides £500,000 follow-on funding to Proven Energy

  • Deborah
  • LinkedIn  
  • Google plus  

Low Carbon Accelerator (LCA), managed by Low Carbon Investors, has invested a further ТЃ500,000 into wind turbine manufacturer Proven Energy Ltd, increasing its equity holding in the business to 49.8%.

Based in Ayrshire, Proven Energy manufactures small-scale wind turbines for over 30 countries worldwide. Clients include Sainsbury, T-Mobile, and Shell.

The new capital will be used to accelerate the product development of the 6kW and 15kW turbines, upgrade he production quality-control systems, and expand the senior management team.

LCA first backed in Proven Energy in 2006 and now has a total of £7.15m invested in the business. Over the course of the investment, annualised sales have grown over 50%.

  • LinkedIn  
  • Google plus  

More on Expansion

Latest News