Edinburgh gas compressor maker Vert Rotors gets £1.5m boost
Manufacturing start-up wants to use the investment from Equity Gap and the Scottish Investment Bank to create new jobs in the Scottish capital
Gas compressor manufacturer Vert Rotors has secured £1.5m investment in a deal led by business angel syndicate Equity Gap, alongside Par Equity, Aero-Den, and the investment arm of Scottish Enterprise; the Scottish Investment Bank.
Based in Edinburgh and founded in 2013 by Olly Dmitriev, Vert Rotors produces specialist compact, high-pressure and low-vibration gas compressors designed for aerospace, medical and other applications where vibrations and noise aren’t acceptable, and dimension and weight are mission-critical.
The company works with a number of Fortune-500 manufacturing companies in the EU and US and recently won a contract with the UK Centre for Defence Enterprise (CDE) to develop a prototype of the low-vibration cooling system that could significantly improve the quality and resolution of infrared imaging in small surveillance satellites.
It intends to use the funding to create more skilled manufacturing jobs in the capital, particularly for those who previously worked in the oil and gas industry, and will also invest in increasing its manufacturing capacity at its base in Gracemount.
Dmitriev commented: “This investment brings valuable highly skilled manufacturing jobs to Edinburgh and allows Vert Rotors to increase our sales outreach.We look forward to scaling up our operations following this investment.”
On it’s investment in the Edinburgh start-up, Kerry Sharp, head of the Scottish Investment Bank, said:
“Scottish Enterprise is delighted to further invest into this ambitious and innovative engineering business. Its efforts to support former oil and gas workers is exemplary and contributes to the Energy Jobs Taskforce’s aim to support individuals affected by the oil and gas downturn, in particular through helping them find new employment opportunities both within and outwith the sector.
“This investment is great news for Vert Rotors and for the former oil and gas employees and we look forward to continuing to work closely with the company to help realise its significant and global growth plans.”