Sunamp
£6m investment to allow Sunamp to scale up production of innovative heat batteries and progress international expansion from their East Lothian base.
"This innovative Scottish business has developed technology which can make a significant positive impact on domestic and commercial heat provision.''
Eilidh MactaggartCEO - Scottish National Investment Bank
Key Information
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Amount Invested
£6m
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Location
East Lothian
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Units sold to date
Over 15,000
Key Quotes
Eilidh Mactaggart, CEO of the Scottish National Investment Bank, said:
“Sunamp’s thermal energy storage products have the potential to make a significant positive impact on domestic and commercial heat generation and energy efficiency. It is reflective of the quality of Scotland’s research institutions that this technology has been developed in collaboration with the University of Edinburgh and is now being exported internationally. It is an exciting time for the Bank to be supporting the team at Sunamp as they seek to further expand both domestically and internationally.”
Andrew Bissell, Founder & CEO of Sunamp, said:
“The Bank and Sunamp share a vision of a world powered by affordable and sustainable energy. The Bank understands and supports the role our thermal technologies will play in accelerating the adoption of renewables in the transition to net zero. We are passionate about what we do, and the Bank’s investment is a strong vote of confidence in our strategy and our capability to become a significant global player in transforming how we heat and cool our buildings.
“With this funding, we will continue to scale the market for our technology and will grow national operating teams in at least 10 countries. There is enormous potential for our thermal storage technologies and products both under Sunamp and partner brands. Our order book grew 250-fold from £200,000 in March 2020 to £55 million by the end of the same year, mainly due to large scale, multi-year OEM and distribution partnerships in Asia, the UK and Europe. There are many exciting opportunities in Sunamp’s pipeline, including some that will see us become firmly established in commercial, industrial and automotive markets as well.”
Alignment to the United Nations' Sustainable Development Goals
All of the investments we make support the UN's Sustainable Development Goals. This investment supports the goals below:
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Goal 7
Affordable and Clean Energy
Improved efficiency of domestic heating systems and reduced reliance on fossil-powered heat
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Goal 8
Decent Work and Economic Growth
New jobs in innovative technology, with associated supply chain benefits
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Goal 9
Industry, Innovation and Infrastructure
Innovative technology, developed in association with Scottish universities
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Goal 11
Sustainable Cities and Communities
More efficient domestic heating and reduced reliance on fossil-powered heat
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Goal 12
Responsible Consumption and Production
More efficient heat storage resulting in lower energy usage
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Goal 13
Climate Action
Reduced reliance on fossil fuels, less CO2 and other greenhouse gases