Scottish Tech saw a number of exciting investments and funding opportunities, ranging from local 5G boosts to decarbonisation efforts, with Aberdeenshire playing host to two major acquisitions.

Funding and Investments

£34m UK Gov Funding to Decarbonise the Maritime Industry

The UK Government has announced that it’s committing a further £34 million to new technologies and solutions that help to decarbonise the maritime sector.

The funding is being made as part of the fourth round of the Clean Maritime Demonstration Competition (CMDC), which seeks to help develop new, sustainable technologies that can connect people, goods, and services in a greener manner.

The competition itself is funded by the UK Government’s Shipping Office for Reducing Emissions (UK SHORE), and is delivered by Innovate UK.

Speaking on the CMDC’s fourth round, the Maritime Minister Baroness Charlotte Vere said: “Pushing the boundaries of possibility is integral to the UK’s global ambition of a greener maritime sector.

“The UK’s maritime sector is one of the most competitive and innovative in the world and today’s latest clean maritime demonstration competition funding is testament to that.”

Read more here.

Productivity Club Scotland (PCS) Received Fresh Government Funds

Productivity Club Scotland (PCS) lands £200,000 funding injection from the Scottish Government.

PCS was established almost four years ago to address the need to improve productivity levels in the country. It did this by facilitating learning programs for small to medium sized businesses (SMBs) dedicated to the development of Scotland’s economy and well-being.

With this new funding, PCS will be able to expand its network, and organise a series of peer-to-peer learning events through Scotland.

In 2022, PCS was expanded to align with the goals of Scotland’s National Strategy for Economic Transformation, aiming to assist business, third sector, and public sector leaders in implementing practical measures to enhance their organisations’ productivity.

“The Productivity Club offers support and harnesses the immense value of peer support when it comes to practical investment and what truly works,” said Carolyn Currie, chief executive of Women’s Enterprise Scotland.

Read more here.

Administrate Raises £5M Investment

Enterprise training operations platform Administrate has announced that it has raised £5 million from existing investors Archangels, Mercia, and the Scottish Investment Bank, and that it had welcomed Hambro Perks as a new capital partner.

Funds will be deployed to support the company’s growth and continue to meet the needs of its diverse and growing North American enterprise customer base.

The company, which was recently recognised as one of the fastest-growing tech companies in the UK by global tech and advisory firm GP Bullhound, provides a scheduling and logistics platform to help teams manage their complex global training operations.

The deal was led by Hambro Perks who specialise in supporting high-growth scale-up companies that focus on B2B SaaS.

“Backing Administrate was an easy decision,” said Usman Ali, Partner at Hambro Perks Growth Debt Fund.

Read more here.

UK Space Agency Backs New Telecoms and Aerial Tech with £20M

The UK Space Agency will back the development of future telecommunications technologies and aerial connectivity projects with £20 million in funding, it’s been announced today by the Secretary of State for Science, Innovation and Technology, Chloe Smith.

Companies looking to develop applicable tech solutions can now apply for a share of the £20m funding pot.

“Projects could include developing connectivity for aerial platforms with hybrid capabilities that can seamlessly switch between satellite and terrestrial networks, or traffic management for innovative vehicles such as electric vertical take-off and landing (eVTOL) aircraft, or ‘flying taxis’,” the UK Government said.

The call for project proposals is being run in coordination with the European Space Agency (ESA) as part of its Advanced Research in Telecommunications Services (ARTES) programme, of which the UK Government committed £190 million to in November 2022.

Read more here.

Skylark Wins £2.3M From Innovate UK

Scottish tech firm Skylark Lasers has been awarded £2.34 million in funding from Innovate UK to help develop the next generation of quantum-enabled navigation and time-keeping systems.

The Edinburgh-based photonics company has been awarded almost 10% of the £25 million available from Innovate UK’s Small Business Research Initiative (SBRI) competition fund for quantum-enabled positioning, navigation, and timing (PNT) solutions.

The money is set to be invested into establishing and scaling the production of quantum gravity sensors which can accelerate advancements in the autonomous navigation of shipping vessels and provide next-gen navigational precision to tankers on the open seas, where GPS and satellite navigation are poor.

Commenting on the funding success, Dr. Ben Szutor, the recently appointed CEO at Skylark Lasers, said: “We are excited to continue our development efforts within the fields of quantum technologies. This is a milestone moment for Skylark Lasers as this new funding will enable the full-scale commercialisation of our quantum portfolio.”

“Scotland is at the forefront of worldwide laser innovation and this funding will further excel Skylark Lasers as a pioneer in the development of quantum technologies, and allow us to grow the business in the coming years.”

Read more here.

£50M Research Ventures Catalyst to Boost UK Tech Research

Up to £50 million of government investment in new UK research ventures will encourage greater private and philanthropic backing for UK science, research and innovation under new plans unveiled today.

This will help deliver the cash that is vital to finding new ways to tackle deadly diseases, and to harness new technologies that will underpin the economy of the future.

The launch of the Research Ventures Catalyst will drive more private and philanthropic funding into UK R&D, building on the City of London’s position of strength as an international financial centre for the benefit of our scientists and innovators.

Secretary of State Michelle Donelan said: “From Edward Jenner’s invention of the very first vaccine, to the scientists in Manchester who isolated graphene, so many of the Great British breakthroughs which have changed the world would not have been possible without people who dared to do things differently, and take calculated risks.

“In today’s world, that approach is just as important as ever.”

Read more here.

Allied Vehicles Receives £1.3M From Scottish Enterprise

Glasgow-based Allied Vehicles Group, the manufacturer and supplier of wheelchair accessible vehicles (WAVs), has been awarded a grant worth £1.3 million from Scottish Enterprise to help drive forward a project to adapt sustainable vehicles for wheelchair users.

The £1.3 million goes towards Allied’s research and development (R&D) of a new vehicle conversion process for hybrid and electric vehicles (EVs), helping to ensure that more disabled people can access and use sustainable cars as Scotland transitions towards net zero.

In addition to developing inclusive engineering solutions for the emerging plug-in hybrid and electric vehicles market, the project will also focus on the development of an electronics package for low-emissions taxis, such as those needed in Glasgow’s low emission zone.

Speaking on the funding and the R&D project, Peter Facenna, managing director of Allied Vehicles Group, said: “Engineering innovation and development are key to our plans to expand our UK and international business activity, by providing first class accessibility solutions for people with severely impaired mobility.

Read more here.

£40M for 5G Wireless Technologies

A £40 million fund is now available to advance 5G wireless technologies, and any UK authority can apply for funding.

The funding is led by The Department for Science, Innovation and Technology (DSIT) as part of the government’s approach to drive economic growth through digital infrastructure. Successful applicants will be ‘5G Innovation Regions’ (5GIRs).

The fund is looking to create 5GRIs in regions that support sectors like advanced manufacturing, transport, agriculture, and public services. If allocated properly, government research indicates 5G adoption could lead to up to £159 billion in productivity benefits by 2035.

Applications are open today and closes on 10 September – a competition briefing meeting will take place on 1 August.

Minister for data and digital infrastructure, Sir John Whittingdale said: “Greater adoption of 5G-powered technologies will help deliver more efficient public services, new opportunities for residents and businesses, and a boost for economic growth – and this new fund will give local areas from across the country the opportunity to be at the forefront of Britain’s world-leading 5G revolution.”

Read more here.

Acquisitions

Aberdeenshire’s STATS Group Acquired by Mitsui & Co

Aberdeenshire-based engineering services company, STATS Group, to be acquired by Japanese listed Mitsui & Co.

The deal was announced through the execution of a Share Purchase Agreement which will see STATS sell 100% of its issued share capital to the Japanese company.

The deal is expected to be finalised during the summer, pending regulatory competition approval.

The move will see Pete Duguid, chairman and founder of STATS, retire from his role. However, the rest of the executive team will remain with the company following the transaction.

Leigh Howarth, CEO of STATS said: “Having worked with the Mitsui team for several months now, we’re delighted to be formally joining forces to pursue opportunities in both the traditional oil and gas pipeline markets and the emerging low carbon markets.”

“Supported by Mitsui’s broad energy relationships and investments, we see significant growth potential for STATS from this transaction, and resultantly excellent career development opportunities for all our staff.”

Read more here.

Prism Energy Acquires Mandos Software

Aberdeen-based Prism Energy has acquired another local company, Mandos Software, to Enhance Process Management Solutions.

Prism Energy, the project risk management consultancy closed the deal for an undisclosed amount. Prism made the acquisition in a bid to introduce Mandos’ quality management systems and services into its business.

Mandos Software creates software solutions for organisations to meet legislative requirements and improve efficiency. This will assist Prism, which focuses on digitising common processes, especially in the onshore and offshore oil and gas industries.

Energy production is the largest industry in Aberdeen, employing over a third (35.4%) of total employment in the area. Aberdeen is also known widely as the energy capital of Europe.

Andy Sutherland, managing director of Prism Energy said: “As a software-based consultancy, we always look at how we can best utilise and develop technology to digitise key elements of common processes to enable companies to deliver projects more efficiently but above all, safely.”

Read more here.