Cyclotech, a provider of innovative separation technologies and processes to the upstream oil and gas industry, has secured new development funding.

Cyclotech, a provider of innovative separation technologies and processes to the upstream oil and gas industry, has secured new development funding.

The finance was provided by Aberdeen Asset Managers Growth Capital, which invested £1.4 million of equity in the company.

The capital will be used to develop Cyclotech’s products and to make additional management appointments as well as open new offices in Houston, Texas and Singapore.

Cyclotech’s managing director, Dave Hadfield, said the company operates in a sector of the upstream market that offers huge opportunities. “In Aberdeen Asset Managers we have found a partner who shares our vision and is willing to make the necessary investment to make that vision a reality.”

Aberdeen’s funding was arranged by its investment director Jock Gardiner, who said the firm looks forward to working with Dave Hadfield and his team to develop the company.

“Cyclotech provides a niche technology in a growth area and has an excellent management team,” he added. “Our investment will enable Cyclotech to capitalise on the significant opportunities currently present that will take it to the next stage in its development.”

Cyclotech focuses on the design and manufacture of process solutions based around its hydrocyclone technologies. These are used in oil and gas production processes to handle produced water and sand, enhancing production and meeting ever tightening environmental requirements.

The business, which employs 25 people, operates from a principal office in Basingstoke and has sales offices in Aberdeen and Stavanger in Norway.