Vert Technologies raises £ 1.9million for expansion

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Refrigeration and heat pump specialist Vert Technologies has raised £ 1.9million to support expansion plans.

The Edinburgh-based company aims to strengthen the presence of its conical rotary compressor (CRC) technology in the refrigeration and heat pump industries.

Green recently finalized a round of funding of £ 775,000, via existing investors Par Equity, Equity Gap, Aeroden and Scottish Enterprise. It also received a grant of £ 650,000 from Scottish Enterprise to develop a compressor for the refrigeration market.

The company also received £ 490,000 from the UK Department for Business, Energy and Industrial Strategy (BEIS) Energy Entrepreneurs Fund. The 15-month BEIS project will help the company refine its CRC technology for use in home heat pump systems.

The money will mainly be used to accelerate volume production for the refrigeration, heat pump and liquid pump industries.

Dr Phil Harris, Managing Director of Vert Technologies, said: “The Green Conical Rotary Compressor will play a key role in global climate ambitions and we welcome the support of both the technology and the drive of the team, to accelerate a rapid transition in the use of low GWP refrigerants in domestic heat pumps and refrigeration systems around the world.

“This is an incredibly exciting time for Green – our transition from a young company to a successful and relevant one has been swift and with this additional investment we will be able to work with more global companies within our target markets to expand. their products of the future. . “

Andy McDonald, Low Carbon Transition Manager at Scottish Enterprise, said: “The Scottish Government’s recent strategy on heating in buildings sets the way for reducing emissions from Scottish homes and buildings, and this technology from Green highlights the innovation that supports our net zero ambitions around low carbon heat.

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