XLCC

Mission Impacts

The investment in XLCC aligns to our net zero mission, which aims to address the climate crisis by developing a fair and sustainable economy.

About XLCC

XLCC is an independent British company founded in 2020 to address the critical infrastructure needs of the global energy transition. As the world moves toward Net Zero, electrification becomes essential. However, there is a global shortage of HVDC subsea cables needed for this transformation. To meet this demand, XLCC is building a world-class HVDC manufacturing facility in Hunterston, Scotland, along with the necessary marine and project management capabilities. This will create 900 highly skilled jobs that will significantly boost the global supply of cables. The cables produced at Hunterston will be vital in supporting the UK’s energy transition.

"Realising Scotland’s potential as a global clean energy producer depends on a robust local supply chain. XLCC is a critical component of that chain, enabling the transport and connectivity of our clean power. We are excited for the future of this company and the economic benefit it will bring to Scotland.”

Craig Stevens

Investment Director at the Scottish National Investment Bank

Key Information

Key Mission

Net Zero

Amount Invested

20m

Location

Ayrshire

Key Quote

Ian Douglas, CEO of XLCC, said: “We welcome the investment from the Scottish National Investment Bank as we deliver on our mission to provide the critical infrastructure that is essential to the energy transition. By 2030, demand for subsea cables is expected to be two and a half times greater than the supply. The Hunterston facility will help us meet this demand and bring highly skilled jobs to Ayrshire.”

The Bank is Scotland’s development bank and is a mission-led impact investor. This investment aligns to its net-zero mission, which aims to address the climate crisis by developing a fair and sustainable economy. It delivers patient capital and takes a long-term view of investment.

XLCC