DIGIT Deal Roundup Column: July 2020
Eos Advisory and Cumulus
The investment round, which was supported by the Scottish Investment Bank, Alba Equity, Apollo and Investing Women, marks one of Eos’ largest deals to date. The funding will enable Cumulus Oncology to continue scaling its business model and take advantage of what it described as “significant market opportunities in Europe”.
Clare Wareing, founder and CEO of Cumulus Oncology, commented: “While the business model is well developed in the US, Cumulus is leading the way in Europe. Having spent three years carefully curating a high-calibre team and building a portfolio of oncology asset-centric spin-out companies, we are poised to scale the business. “Venture capital and trade investors see the value of the European biotech sector, which has matured markedly over the last few years evidenced by a threefold increase in venture financing, the doubling of European VC funds and increased investment from the US.”
Andrew McNeill, managing partner at Eos Advisory commented: “With a track record in scaling and exiting biopharmaceutical ventures, Clare is a founder who combines significant market understanding with a clear vision of what she wants Cumulus and its portfolio companies to achieve. “Clare has assembled a world-class team and we are enthused by their keen focus, deep sector expertise and drive to consolidate Cumulus’s position as Europe’s first and most successful oncology drug discovery accelerator.” Kerry Sharp, Director, Scottish Investment Bank, said: “Cumulus Oncology is a hugely exciting venture which highlights yet again Scotland’s exceptional global reputation for life sciences innovation.
“The team has excellent previous experience in creating high-value enterprises and we look forward to working with them in this new venture.” Want to find out more? Check out the original article here.
Smart home security startup Boundary Technologies has completed a GBP1.7 million annual fundraiser, bringing the total amount secured by the firm so far to GBP3.9 million. The Edinburgh-based firm is preparing for the official launch of its smart home security system in August this year. Boundary said it will use the investment to complete product testing and to prepare for its post-launch operations.
In June, Boundary secured its final GBP90,000 tranche, demonstrating continued investor confidence amid a difficult period. This latest funding boost marks the second significant investment in Boundary within the last year. In September 2019, Boundary secured GBP1.2m in funding from Equity Gap and the Scottish Investment Bank, the investment arm of Scottish Enterprise.
Commenting on the investment, CEO and co-founder Robin Knox said: “It became very clear from my discussions with investors over recent months that they like the space Boundary is operating in. “We have worked hard to get to grips with the stringent regulatory framework that exists around the police response intruder alarm market and this is clearly a key strength of the Boundary model.” Knox added: “Investors were also excited by our plans for the future of crime prevention, including our use of machine vision in the development of our external security camera.”
Alongside Knox, Boundary is spearheaded by Paul Walton. The duo previously disrupted the payments market with a successful fintech startup, Intelligent Point of Sale (IPOS). Want to find out more?
Check out the original article here.
Computer vision startup Neurolabs has completed a EUR1 million (GBP901k) pre-seed funding round, co-led by Lunar Ventures and Techstart Ventures. Neurolabs confirmed that ID4 Ventures, 7percent Ventures, Charles Songhurst and Andreas Weise also participated in the funding round.
Commenting on the funding, Neurolabs CEO & co-founder Paul Pop said: “I want to thank our team for the hard work they’ve put in to get us where we are today. “Like most companies, we’ve hit a rough patch at the start of the pandemic and we wouldn’t have made it without each and every individual contribution.” Pop added: “From this day forward, we’ll be backed by a great group of investors that understand at a deep level the vision behind our technology.”
Mark Hogarth, a partner at Techstart Ventures, added: “Techstart are excited to be part of an amazing group of international investors who have come together to support the hugely talented Neurolabs team as they pursue their mission to democratise computer vision from bases in Edinburgh and Cluj Napoca.” Want to find out more? Check out the original article here.
Artificial intelligence (AI) company Intellegens has received funding from Innovate UK to model worldwide Covid-19 data and improve the management of future coronavirus outbreaks and other global pandemics. Using data collected by different countries throughout the current crisis, the company will build an interactive, predictive tool that will make it easier for governments, healthcare providers, and companies to predict the progression of pandemics and forward plan accordingly. Once complete, Intellegens will work with The Richard Nixon Foundation to roll the model out as a public policy tool.
The tool will initially be targeted at health and social care providers, who need to ensure adequate resources and supplies are in place to meet the needs of the sick and vulnerable. Gareth Conduit, Chief Technology Officer at Intellegens, commented: “The emergence of Covid-19 has exposed a weakness in the global strategy for managing pandemics, which can significantly impact on human health, daily life, and world economics. “Throughout the pandemic, different countries have adopted different approaches, with varying degrees of success.
Globally, the challenges faced have been distinct with many countries facing a shortage of critical supplies including personal protective equipment, drugs, and ventilators. “The key to managing future pandemics lies in modelling Covid-19 data from multiple sources, to compare and contrast the experiences of different countries at a granular level and learn from best practice. “This means bringing together information, in different formats, which may be inconsistent and, in some cases, incomplete.
“Standard data modelling tools struggle with data that is sparse or noisy, but the Intellegens’ Alchemite technology is different. “Working with the information available, Alchemite accurately predicts missing values and extrapolates correlations between all parameters – significantly reducing the amount of time and money spent on scrutinising statistics. “It is a proven approach that enables discoveries to be made ten times quicker.
We are confident that Alchemite will prove useful in the ongoing battle against Covid-19. “With Innovate UK funding in place, we will create a tool that will enable governments, policymakers, care providers, and companies to better meet peak demand, whether planning the availability of critical supplies or deploying staff.”
i4 Product Design
i4 Product Design begun a feasibility study in July, funded by a SMART: Scotland grant from Scottish Enterprise, to explore how ‘energy harvesting’ can power electronics and Internet of Things (IoT) devices.
Energy Harvesting captures power from various and often combined natural sources like solar or thermal to run IoT devices. IoT technology has integrated with physical products, such as wearables and medical devices that are embedded with sensors or software to exchange data over the internet. The increased use of this technology has left the market dependent on batteries to power these products at the cost of negative environmental impacts.
Only available to small and medium-sized enterprises (SMEs) based in Scotland, the SMART: Scotland grant is one of Scottish Enterprise’s research and development (R&D) grants that aim to support high-risk, highly ambitious projects. It covers two key areas of R&D – conducting feasibility tests and developing prototypes – and it supports activities that have a commercial endpoint. Istvan Csajaghy, i4pd Principal Electronics and Systems Engineer and project lead, commented: “I am really excited to receive funding to work on, what I believe, will be a game-changer in the world of wireless product design.
“Today’s technology enables us to challenge the use of batteries in devices, and I look forward to seeing more self-powered products in our everyday life.” Mike Huston, team leader at Scottish Enterprise, said: “This project represents an opportunity to make everyday technology greener, which is more important now than ever. “We’re pleased to continue our support for i4 Product Design, having had a strong relationship with the company for some time including advising it about market development and becoming employee-owned.”
Commsworld has been awarded a GBP15 million contract by Renfrewshire Council to upgrade digital connectivity and services across the region. The landmark deal, which is the largest public sector contract agreed in the UK so far this year, will see the Edinburgh-headquartered firm partner with CityFibre to provide full-fibre connectivity to 180 council buildings. Schools, libraries, and community centres, as well as the region’s CCTV and traffic control systems, are set to benefit from the digital infrastructure improvements.
As part of the collaboration, CityFibre will design, build, operate and own more than 80% of the new network, with Commsworld delivering connectivity to the remaining sites and providing services over the network. Once completed, Commsworld said the full-fibre project will transform and future-proof Renfrewshire Council’s frontline public services. Bruce Strang, chief operating officer at Commsworld, said: “This is a very exciting new contract for Commsworld.
We look forward to working with Renfrewshire Council to transform its Wide Area Network and delivering a step-change in the bandwidth available to the region’s schools. “We have demonstrated a track record of success in delivering massively enhanced infrastructure to Edinburgh, the Scottish Borders and Glasgow, and look forward to delivering the same for Renfrewshire Council.” CityFibre’s chief commercial officer, Rob Hamlin, added: “We are delighted to be working alongside Commsworld to deliver such an important digital infrastructure project for Renfrewshire Council, one that underpins the area’s development and success for generations.”
Construction will begin this summer, with a core network of approximately 130km set to be installed. CityFibre will connect public sector sites in Johnstone, Linwood, Paisley and Renfrew, while Commsworld will build full-fibre connectivity directly to sites in Bishopton, Bridge of Weir, Erskine, Houston and Inchinnan. Want to find out more?
Check out the original article here.
The Scottish Government
The Scottish Government has announced a GBP50 million investment in the Falkirk area as part of the Falkirk Growth Deal. Invested over ten years, the funding will target economic development across a range of areas, including infrastructure, transport, innovation, energy transition and skills.
Specific projects and activities to be supported will be announced over the coming months, Holyrood said. The UK Government is also investing GBP40 million in the growth deal. Scottish Government funding matches that and provides an additional GBP10 million to support green economy ambitions in the Falkirk area.
Announcing the investment, Scottish Government economy secretary Fiona Hyslop said: “The Falkirk Growth Deal demonstrates our commitment to supporting the region and delivering long-term benefits to the local communities and businesses. “We will continue to work with our partners in Falkirk and the UK Government, supported by our enterprise and skills agencies, to help them to consider proposals that will unlock investment and drive inclusive growth across the area, creating a fairer, greener and more inclusive wellbeing economy.” Scottish Secretary Alister Jack added: “We know that City Region and Growth Deals will be vital to Scotland’s economic recovery from coronavirus.
The Falkirk Growth Deal will enable the regional economy to innovate, boosting investment and providing sustainable, high-quality jobs.” Falkirk Council leader, councillor Cecil Meiklejohn, welcomed the funding boost but suggested the award was less than expected. She said: “We welcome this offer of support and will work with Scottish and UK Governments to progress this initiative while seeking further assistance to deliver on the full-scale of the ambition for our area’s economy.
“The award, however, is relatively low considering our population and large-scale ambitions we have for the area, and Grangemouth’s strategic importance to the Scottish and UK economies.” Want to find out more? Check out the original article here.
The Bioeconomy Cluster Builder
July 23 saw the launch of a new initiative aiming to boost the “bioeconomy” in Scotland and leverage millions of pounds in funding. The Bioeconomy Cluster Builder (BCB) project will last for three years and be funded by the European Regional Development Fund (EDRF). It is hoped that the initiative will drive Scotland’s green recovery and help to deliver on the promises of the National Plan for Industrial Biotechnology.
Chief executive of the IBioIC, Mark Bustard, commented: “The Bioeconomy Cluster Builder will really help to drive innovation in the sector and will also boost industry engagement outside of the current bioeconomy community. “We want to encourage companies, start-ups and spin-outs to look at value chains and other opportunities for the production of renewable biological resources, and their conversion into everyday products, that will help to contribute to a cleaner, greener and more sustainable future for all.” The Scottish Government is hoping initiatives like these will help to boost the Scottish economy through its national plan, particularly after the impact of Covid-19.
The plan aims to grow industrial biotechnology-related turnover to GBP900m by 2025 and increase the number of companies using it to 200 across the country. Commenting on the plan, Minister for Trade, Investment and Innovation Ivan McKee said: “Scotland’s Economic Strategy prioritises boosting investment and innovation to create a strong, vibrant and sustainable economy. “Industrial Biotechnology underpins innovation across a range of sectors to boost prosperity through ‘green’ growth and has the potential to be transformational when considering this aim.
“I believe that the industrial biotechnology sector in Scotland will continue to make a strong contribution to our economy and can do so whilst also reducing our impact on the environment.” Want to find out more? Check out the original article here.
The University of Strathclyde
The University of Strathclyde has announced its involvement in six of the Scottish Government’s Advancing Manufacturing Challenge Fund projects. Through the National Manufacturing Institute Scotland (NMIS), the University will lead on two projects and four others will be developed with support from colleagues from across the University Interim CEO of NMIS, Sarah Jardine, commented: “The National Manufacturing Institute Scotland is all about working collaboratively with industry, academia and the public sector to develop Scotland’s manufacturing businesses and the sector’s talented workforce.
“The Advancing Manufacturing Challenge Fund projects are a great example of that in action at a local level across the country. “More than ever, it is crucial that businesses of all sizes, especially smaller companies that so often struggle to compete, are given the support they need to flourish – that is what the NMIS team is aiming to do through this cluster of projects.” Jamie Hepburn, Minister for Business, Fair Work and Skills, said: “The Advancing Manufacturing Challenge Fund is a key part of our efforts to create a successful, vibrant and diverse manufacturing sector that can continue to prosper despite the challenges of Covid-19.
“The expertise of the University of Strathclyde and NMIS will be crucial to help ensure the success of these six projects in supporting SMEs build their capabilities. I look forward to seeing the results of their work.” Join a webinar on 5 August 2020 to find out more about the manufacturing project.
Want to find out more? Check out the original article here.
Machine Labs raised a Seed Extension round of GBP1 million this month, led by Techstart Ventures alongside the founders, the angel investors Bill Dobbie and Richard Freedman, and the British Business Bank. An additional GBP100,000 was also provided in grant funding by Amazon and Scottish Enterprise.
Andrew Veitch, Founder and CEO said: “We’ve had a great first year with over 300 e-commerce stores from 23 different countries choosing Machine Labs to increase their sales. “Right now, we work exclusively with Shopify who power over 1 million webshops around the world, of which 80,000 are in the UK. We are planning to add other e-commerce platforms next year.”
Veitch continued: “This was far from the ideal time to be raising money. Fortunately, we had made enough progress in the critical US market, which accounts for most of our customers, to get the support from investors for our next step. “I’m hugely grateful to everyone who wrote a cheque at this difficult time,” he added. “I’m excited about where we will be in 2021.”
The company has now raised over GBP2 million following the original Seed round on June 28, 2019.
Converged Communication Solutions
Converged Communication Solutions has achieved Blue partner status with Datto, a global provider of IT solutions delivered through managed service providers such as Converged. Blue partner status is the highest partner classification provided by US-headquartered Datto, placing Converged in the top tier of the company’s partners worldwide.
The top-level partner status has come for Converged after its work to ensure clients have systems in place that enables them to continue operating with minimal downtime after an adverse event such as floods, storms, power outages, cyber-attacks and health emergencies. Neil Christie, managing director of Converged said: “Datto has been an important partner for us over the past decade, offering excellent business continuity and disaster recovery products and services to support our clients. “The support that Converged and our whole team has received from Datto has been invaluable as we have assisted clients in a wide range of sectors to build the resilience of their organisations.
“We are committed to offering clients the best-of-breed technologies and systems, and Datto delivers this. Its systems can give small and medium-sized organisations access to security solutions that were once only available to large companies, which in today’s fast-paced, IT and the data-driven world is crucial. “Investing in such systems can also deliver the confidence that if the worst does happen, an organisation can be back up and running quickly.
Gaining Blue partner status is a great achievement for us, and we look forward to continuing to strengthen our excellent relationship with the team at Datto.” Rob Rae, vice president of business development, Datto, said: “We are thrilled to recognise Converged Communication Solutions as a Blue Partner. “We are committed to providing Converged and all our partners with the necessary capabilities to develop deep relationships with their customers and keep growing their brands and businesses.
“We look forward to more success from Converged in 2020, as we continue to roll out new partner services.”
Hydrogen tech firm Logan Energy has been selected to deliver a green hydrogen production and refuelling unit that turns water into transport fuel. Using electricity produced from solar PV panels, the refuelling unit will use an electrolyser supplied by gas generation experts ErreDue UK, splitting water to produce green hydrogen fuel.
The GBP1 million ‘Project Vanguard’, led by Cheshire East Council and Storengy UK, demonstrates the potential to turn water sources into clean, low-carbon energy in the greenest way possible. The hydrogen fuel will be used by the council to support the rollout of two dual-fuel waste-disposal trucks which have been converted to run on hydrogen specifically for the project. The project received a GBP345,000 grant from the Warrington and Cheshire Local Enterprise Partnership, in addition to public and private sector funding.
As well as the waste-disposal truck conversion, the money will deliver the green hydrogen fuelling facility in Middlewich. Bill Ireland, CEO of Logan Energy, said: “The demand to switch to a low-carbon economy is greater than ever before. “The Middlewich environmental hub will provide an opportunity to explore how innovative hydrogen technology can be used as an efficient and economic ultra-low emission solution for local authority vehicles.
Its success could lead to a variety of vehicles being introduced into the fleet in the future.” Jonathan Cox, ErreDue UK’s director and representative for Erredue SpA, said: “Working with Logan Energy to support green hydrogen projects is a vital step in meeting net-zero targets. “Their expertise provides a great opportunity for ErreDue UK to integrate its own innovative technology and together, we’re helping to produce a safe, clean alternative fuel.”
Michael Gibson, Managing Director of Storengy UK, said: “We are proud to be delivering this innovative project for Cheshire East Council. “We are one step further in demonstrating that hydrogen is a viable green fuel for transport and working with Logan Energy we are keen to support Cheshire East Council meet its ambitious carbon footprint and air quality objectives.”
Hybrid cloud managed services company Brightsolid launched a new professional services practice in July.
Conceived before the coronavirus crisis hit, the practice has been designed and launched now to advise organisations on how they can utilise cloud computing to not only navigate the current economic environment but also consider how they can future-proof for financial recovery once the crisis ends. The practice will work closely with organisations in all sectors across Scotland to consider how they can benefit from digital transformation and where technology can help them to overcome current economic challenges. Jon Gasparini, CTO at Brightsolid commented: “In times of crisis, organisations require a flexible and dynamic infrastructure to support their changing business needs.
“Many of the organisations we speak with on a regular basis understand how the cloud will benefit them, but what holds them back is knowing how they can make that change on top of other responsibilities and priorities. “When faced with a crisis, it’s natural to feel that you need to move at lightning speed to adapt. However, while the cloud is the perfect technology to quickly scale up, you may find that there are other areas in the business which may benefit from the cloud.
“It’s vital that organisations fully consider the whole spectrum of their infrastructure and ensure they make the right decisions at the right time to avoid costly mistakes. “Often, it is only by introducing an external partner into the mix that the existing IT landscape can be fully evaluated. The development by the Dundee-based company follows the broadening of Brightsolid’s go-to-market strategy in late 2019 where it extended its capabilities beyond colocation to provide hybrid cloud managed services.
Gasparini continued: “With Brightsolid’s 25-year legacy, we are both trusted and respected within the market, so it was a natural evolution to our business to launch our professional services practice. “Cloud models, for many, hold the key to business transformation, thanks to the agility and flex, control, and security they provide to IT environments. “The feedback is already positive from the organisations we have been speaking with about the practice and we look forward to supporting them in their digital transformation.”
ScottishPower Renewables has started operating all 102 turbines at its East Anglia ONE offshore wind farm which can provide the UK grid with 714 MW of clean energy, equivalent to the needs of 630,000 homes. Based 43km off the coast of Suffolk, the power is transferred to an onshore substation in Burstall, near Ipswich. The project, a joint venture between developer ScottishPower Renewables and Green Investment Group (GIG), was built using GBP2.5 billion of investment.
With work starting on the project in 2017, around 3,500 jobs were created during the construction process. Operations and maintenance work will require 100 long-term skilled jobs at the site’s base in Lowestoft. Charlie Jordan, East Anglia ONE Project Director at ScottishPower Renewables, said that the final commissioning of East Anglia ONE comes at a crucial time as the UK takes it first steps towards a green economic recovery.
“Reaching this point was always going to be an extremely important moment for us – heralding the start of full production of green energy from a major site that will play a real part in the UK’s path to net-zero,” he said. “What has made it even more incredible is the determination and tenacity of our team, who have worked tirelessly to deliver this significant technical project amidst an unprecedented pandemic, which none of us could have planned for. “This was also the first time we have worked with Green Investment Group, and I would like to thank them for their support.”
Edward Northam, Head of GIG Europe, said: “East Anglia ONE is a reminder that the UK continues to lead the world in the successful delivery of offshore wind projects, and I’m proud of the role that Green Investment Group has played, and continues to play, in supporting and funding the development of this market. “We remain committed to accelerating the UK’s energy transition and believe offshore wind will be at the heart of the UK’s net-zero energy system.” Want to find out more?
Check out the original article here.
Midlothian-based microarray instrumentation company Arrayjet has secured a further contract with US-based Proteomics company, CDI Laboratories, located in Baltimore, Maryland and Mayaguez, Puerto Rico, which will further enhance CDI’s work in advancing proteomic research and development. The contract is valued at £1 million and is the second Arrayjet install at CDI.
This new instrument features the IRIS Optical QC system which has a dual camera mounted on either side of the printhead for enhanced QC capabilities. This follows on from the deployment of Arrayjet’s Ultra Marathon II high throughput microarray printer back in 2015. This enables CDI Laboratories to perform efficient analyses of thousands of protein interactions using minimal amounts of valuable research or clinical samples.
CDI expects that the purchase of Arrayjet’s Ultra Marathon II will improve CDI’s ability to print large quantities of protein and antibody microarrays whilst significantly optimising quality. The laboratory currently has patents in process for a number of related technologies to increase high throughput analysis of protein-to-protein interactions, antibodies and biomarker identification processes. Scott D.
Paschke, Vice President of CDI Laboratories said: “The CDI mission is to empower research and development in proteomics with proprietary technologies. “In essence, we create tools that help accelerate research by designing tools to improve research in the area of proteomics. “We are very excited about our continued affiliation.
ArrayJet’s printing technology is certainly cutting edge and we expect it to significantly improve our capacity and quality. “It was chosen because of its ability to print large numbers of high-quality arrays with the least amount of quality control problems. Because of the printer’s speed and versatility, it will significantly improve CDI’s manufacturing capabilities and enable us to meet increasing customer demand.”
Gavin Boothroyd, Commercial Manager, North America for Arrayjet commented: “We are delighted to strengthen our partnership with CDI and to continue to play an integral part in helping them achieve their growth plans. “The contract is a great endorsement of our technology and capabilities for accuracy, precision and quality. It also demonstrates the best in class customer support that Arrayjet provides to all clients”
Heart of Midlothian Football Club welcomed UserTesting on board as a Hearts Women partner for the new season in July.
The company is working with the clubs on gender parity and diversity across sport and technology. Last year, Hearts integrated women’s football fully into its Academy structure, providing the same elite facilities to its newly promoted women’s team as it provides for its men’s team. At the same time, its Innovation Centre has taken great strides in involving more girls in Digital Education programmes to prepare them for careers in an industry where they are significantly underrepresented.
Linking football and technology will create more aspirational role models and provide girls with new opportunities to improve their health and wellbeing and develop vital skills for the future. Bruce Hunter, VP of EMEA at UserTesting, said: “At UserTesting we strive for diversity and inclusion. As a global tech company with a European Headquarters in Edinburgh, we’re also passionate about supporting the local community, so this initiative hugely stood out to us.
“The Scotland Women in Technology charity via the Heart of Midlothian partnership is a great programme to help young women develop new skills to hopefully drive more women to become represented in the tech industry in Scotland. “Our female developers at UserTesting are some of the best and brightest and we want to continue to grow our engineering team with strong female leaders, as we see it as a crucial part of building successful market products and effective teams. “So, we’re absolutely delighted to be sponsoring this initiative and we’re excited to see how it will enable and support young people to thrive in the Scottish tech industry.”
Ann Park, Hearts’ Director of Community and Partnerships, added: “We are thrilled to add UserTesting to our growing family of Hearts Women sponsors. “It is important that we partner with brands who share our values and we commend UserTesting’s clear focus on diversity and inclusion. “We are proud to partner with a real innovator in the tech sector and are confident that this will support our plans to inspire girls to take advantage of new opportunities in sport and technology future.”
Cryptocurrency Scotcoin announced the launch of its new ERC20 token this month.
The token uses the Ethereum blockchain, the second-largest distributed ledger network in the world by market capitalisation after Bitcoin. The Scotcoin cryptocurrency was established in 2014 and now has more than 3,000 worldwide holders and has a market value of £100 million placing it in the top 100 of global cryptocurrencies as measured by market value. Temple Melville, CEO of The Scotcoin Project CIC, said: “I am delighted that we have finally reached this milestone in the evolution of Scotcoin.
“We have worked hard to meet the condition laid down by our stakeholders and funders that the durability and sustainability of the token would never be in the hands of the few. “Use of the Ethereum blockchain assures that that objective is met”.
IGS and Vertegrow
Indoor agritech specialist Intelligent Growth Solutions (IGS) has announced the completion of a deal with new vertical farming operator Vertegrow. The four-tower system will be built in Aberdeenshire in Scotland in late 2020.
A 245 m2 insulated superstructure will accommodate four nine-metre-high towers alongside a 1,600 m2 service area on Vertegrow’s site at Waterside Farm in Aberdeenshire. This will provide approximately 1,343 m2 of growing space, producing up to 70 tonnes of produce per annum when fully operational. The towers, which are expected to be operational in early 2021, will grow a variety of crops which are intended to serve the local food supply chain.
IGS CEO David Farquhar commented: “This is an exciting step for IGS and for Vertegrow as we set out to deploy a new vertical farm for a new operator in this space. “With proven experience in traditional farming and extensive involvement, through its owners, in the food and drink sector, we are confident that this will bring a new and top-quality offering to the local market. “Such re-localisation of the food supply chain is a feature of post-coronavirus planning we are seeing all over the world.”
He continued: “We were delighted that the IGS platform was selected for this project. It is proof that our rigorous commitment to engineering design excellence and our unique patented systems deliver what customers want – a system that is highly pragmatic, flexible, modular and scalable. “We look forward to getting underway with the deployment of our Growth Towers with the Vertegrow team.”
Graeme Warren, of Vertegrow, commented: “Vertegrow is delighted to be working with IGS on this innovative project as we position our farm business to address the challenges of the modern food supply chain. “We have spent considerable time identifying the right partners and systems, and the IGS platform stood out as a quality solution which could be configured for our needs. Growing quality, nutritious food in North East Scotland will allow us to reduce food miles for our customers.
“Combined with our renewable energy sources and rainwater harvesting, the efficiency of the IGS system is a key part of our ambition to grow crops in a carbon-neutral way.
“We look forward to continuing to work with IGS as we construct the facility later this year.”
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