Medical technology company Giltech has secured a £1 million investment from business consulting group Stacey Ventures Syndicate.

Medical technology company Giltech has secured a £1 million investment from business consulting group Stacey Ventures Syndicate.

Ayrshire-based Giltech, which develops biodegradable technologies, will use the money to expand the company, move to a larger office, and recruit more staff, says Giltech managing director Gillian Watson.

Giltech plans to expand from its roots in the medical sector to others including waste treatment, nutrient delivery, and oil and gas.

Dr Mike Stacey leads Stacey Ventures Syndicate, which provides strategic consulting services and investment across a number of sectors.