As part of launching the Bank, we announced a £12.5 million investment in Glasgow-based photonics and quantum technology company M Squared.
This investment aligns to both our innovation mission, to harness innovation to enable our people to flourish, and our net zero mission, to support Scotland’s transition to net zero.
M Squared’s cutting edge technology supports the development of nano-technologies; quantum computing; space technology; and non-invasive health diagnostics, among other applications.
M Squared uses the world's “purest light” to help understand the scale of climate change through its calibration of the most advanced atmospheric monitoring instruments ever launched in satellites.
The Bank’s investment of growth capital will support further research and development in critical areas of novel science, including:
- Making quantum technologies a reality
- Further developing M Squared’s world leading precision light sources in satellites to better map atmospheric pollution and climate change gases
- Enhancing lasers used in specialist manufacturing such as semi-conductors which will improve yield, up-time and cost of ownership
- Higher resolution imaging that can lead to breakthroughs in life-sciences including neuroscience, cancer biology and plant biology
"This Glasgow-based business is at the cutting edge of innovation and is a recognised world-leader in its field with huge growth potential."Eilidh Mactaggart
CEO - Scottish National Investment Bank
West of Scotland Science Park, Glasgow
Eilidh Mactaggart, CEO of the Scottish National Investment Bank said:
“This Glasgow based business is at the cutting edge of innovation and is a recognised world-leader in its field with huge growth potential. It is a great fit with our missions and our investment will create real economic benefit in Scotland. We worked collaboratively to provide an investment solution tailored to M Squared’s needs, and our patient capital approach meant we were able to take the longer-term view that was needed. We are hugely excited about the future for M Squared and look forward to working with Graeme and his team supporting the next phase of its growth.”
Dr Graeme Malcolm OBE, Founder & CEO of M Squared, said:
“M Squared makes the world's purest light - technology that has transformative, real-world, applications that can take on the climate emergency, greatly improve biomedical imaging, realise the next evolution of semiconductors, and now truly unlock the coming quantum age.
“Scotland is at the heart of the UK’s advanced science and technology sectors and sitting alongside world-leading universities and commercial partners – it has become a critical hub of excellence from which we can continue expanding globally.
“Our commercial and technological potential is enormous and with this transaction we have the ideal financial and structural platform to progress and realise substantial growth and launch major new developments.”