Scottish Start-up Secures Funding To Speed Up Microalgae Manufacturing – Edinburgh Hyperloop company to raise £1.5m to help fight Covid-19. A technology company founded by a Scottish company that built the UK’s first hyperloop prototype car has received £1.5m in seed funding.
Continuum Industries, which specializes in artificial intelligence (AI) to rapidly design new systems, said the grant will support designers and engineers working on projects to help the global economy recover from Covid-19.
Scottish Start-up Secures Funding To Speed Up Microalgae Manufacturing
Founded in Edinburgh in 2018 with early support from Skyscanner co-founder Gareth Williams, the company has developed a system that automates technical processes and uses artificial intelligence to find millions of travel options.
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He believes his system can reduce the construction and operating costs of large linear infrastructure projects such as roads and power lines by up to 15 percent.
The funding round was co-led by the UK’s Playfair Capital and Prague-based Credo Ventures and Edinburgh’s TechStart Ventures, with participation from business angels Simon and Michael Blakey and other investors.
Founder and CEO Grzegorz Marecki says many governments are waiting for the economy to help recover, and they want to see construction begin as soon as possible.
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“With the current plans and months or years of plans, they have to find the right way to speed up the process,” he said.
“We believe that new approaches based on automation and artificial intelligence are key to achieving this, and we will use this funding to build new customer relationships, accelerate product development and expand our range of linear systems.”
Before founding Continuum Industries, Marecki and company management led a 150-person team at the University of Edinburgh working on the Hyperloop project, which would transport passengers through light tubes at high speeds inside pods.
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The company built the first Hyperloop prototype vehicle in the UK and successfully competed in competitions organized by SpaceX and Virgin Hyperloop One.
“The Hyperloop Moonshot helped us understand the socioeconomic value of our business and made us think about better ways to take business projects from idea to reality,” said And Marecki.
Manufacturer Continuum Industries can design systems and design teams to reduce the initial design process from months to days.
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Chris Smith, managing partner at Playfair Capital, said: “Even at this early stage, the technology the company has developed is a real game-changer, delivering significant time and cost savings in all aspects of planning and construction projects.”
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Founded in 2016, MiAlgae developed a solution to create a sustainable source of omega-3 for animal and human consumption.
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As a champion of the circular economy, the company has developed a new biotechnological platform that first cultivates omega-3 oil-rich microalgae using low-cost by-products from the food industry and the food industry.
Ascension-led Conduit Impact Fund led the round, investing £900,000 ($1.1 million), while new investor SIS Ventures contributed £350,000 ($421,560).
Following the initial investment, Equity Gap, Old College Capital and Scottish Enterprise secured more than £1 million ($1.2 million) in additional funding. The investment is based on an £850,000 ($1 million) grant secured from Zero Waste Scotland and Scottish Enterprise.
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The £2.3m investment will support the company in its growth plans, which include the completion of a commercial showroom near Stirling, which will help expand MiAlgae’s business.
Initially, the company focused on the pet food sector with an eye to expanding the fish business in the future. Aquaculture is the largest consumer of globally produced fish oil, which is used in fish farming.
The investment will help the company grow and expand its expertise in MiAlgae. Ten new positions will be created, including Chief Engineer and Business Director.
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Douglas Martin, CEO of MiAlgae, said: “It is very exciting that our investors are seeing the value of the biotechnology platform we have developed to control the production of omega-3 oils in sales mode.
“Our process is successful in the circular economy, and the investments we make will be tailored to help MiAlgae scale quickly both at home and abroad.
“Our commercial demonstration plant, which is expected to be completed in early 2023, will help us improve global food security while our research team continues to develop better biotech innovations.
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Hadley Daist, investment director at Conduit Impact Fund, said: “MiAlgae’s circular economy approach to producing omega-3-rich algae solves key pain points for supply (Scotch whiskey distilleries) and demand (food and fish producers) to sustainably export Scotch whiskey products and increase stable, competitive supply of omega-3 in the open market.
“Douglas and his team have worked tirelessly to achieve this vision, and the Conduit Impact Fund is proud to support MiAlgae in the next phase of their business growth.”
Founded in 2016, MiAlgae says oceans are under global threat from overfishing to provide omega-3 oils for humans and animals. It has created a solution through the circular economy.
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Using its biotechnology platform, MiAlgae uses the same products from the food and beverage industry as nutrients to grow omega-3 oil-rich microalgae that can be used as a continuous source of omega-3 and antioxidants. It can eliminate reliance on caught fish as a source of omega-3, reduce CODave Hemming with FreeFlow Technology engine e-gravel cart Twmpa. Surrey Hill, near Peaslake, Surrey. February 2022.
East Kilbride-based Freeflow Technologies (FFT), which makes a lightweight version of the eBike, is launching after closing a funding round of around €1.98 million. This new funding brings FFT’s total to over €6.3 million. The latest round was supported by Equity Gap, Scottish Enterprise and several private individuals.
In 2012, Neil McMartin in Glasgow, after 15 years in the family bike business, FFT’s patented eBike Steering System (ETS) was more flexible and stable, engaging the vehicle’s battery before supercharging the vehicle. Common with today’s electric cars. This includes a feature that makes an ebike look and ride like a regular bike, a key requirement for brands and their end customers. The system connects independent car dealerships around the world with FFT, as the ETS system can be run in-store – giving car shops an additional source of revenue through stock and operations.
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The eBike market has grown over the past year and this trend will continue. Ebikes are currently one of the most popular forms of sustainable transportation, and new technologies like FFT are taking this trend to a practical level.
David Hemming, CEO of Freeflow Technologies explained: “Despite the impact of Covid around the world, the last two years have seen a significant increase in demand and investment. E-bikes shown to many manufacturers of the future. We. One of the main applications of the Freeflow system for e-bike designers is ‘Plug and play’ and it can work with any brand of battery or adapter.It is said to make the e-bike look like a regular bike.Great attraction for consumers.
More than 70 bike manufacturers around the world now have FFT’s ETS (Electronic Transmission System) on their radar, expertly integrated into their e-bikes. In November 2021, FFT announced its first Original Equipment Manufacturer partnership with British gravel bike manufacturer and wood specialist Twmpa Cycles at Rouleur Live, the international bike show.
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The new funding will accelerate parts production from its Scottish production line in 2022. In addition, new employees will be in electrical engineering and software, manufacturing technology and planning.
Martin McCourt, CEO of Freeflow Technologies, said: “Freeflow Technologies will soon be available for purchase, integrated into a major automotive brand and we are delighted to receive enthusiastic support from our customers. Existing investments and some new investments.
John McNicol of Kelvin Capital added: “It’s growing
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