Glasgow-based Trident Energy has secured growth capital, to go with a research and development grant from Scottish Enterprise SMART: SCOTLAND received in May, to allow it to begin testing on a new product.
Trident provides generator services for the offshore renewable energy industry and will use the investment and £225,000 grant to test its PowerPod technology in the sea.
PowerPod supplies off-grid renewable electricity to offshore infrastructure, such as wind turbines and oil platforms. This reduces the reliance on offshore diesel generation.
Steve Packard, CEO of Trident Energy, says he is looking forward to testing the new product.
He adds, ‘It is fantastic to be working with the highly motivated people who are building a new UK industry around offshore renewable energy.’
The Low Carbon Innovation Fund is based at the University of East Anglia in the Adapt Low Carbon Group and is managed by Turquoise International.
The Adapt Low Carbon Group is said to bring together a ‘broad range’ of low carbon expertise and builds on the University of East Anglia’s business activities in the low carbon sector.
Trident is an ‘ambitious’ and ‘innovative’ company, Adapt Low Carbon Group chief executive John French says.
‘Their exciting work in the renewable energy sector will help cater for the growing demand for clean and sustainable energy,’ French comments.
In October, Scottish Enterprise’s SMART: SCOTLAND fund supported local entrepreneur Pete Higgins in his efforst to market a food expiry product.
Scottish Enterprise chief executive Lena Wilson says that Trident Energy is underlining Scotland’s reputation as a ‘world leader’ in the renewables industry.
‘ It’s great to see a Scottish company investing in its innovation at this time, when economic conditions are still challenging,’ she adds.
‘We need more companies to be bold in their growth ambitions, focus on their competitive advantage, and invest in their growth now to get Scotland’s economy moving again.’