A London-based, textile brand which promotes, social, ecological, and cultural development has secured £250,000 to further develop its products and recruit additional senior staff.

London-based B-corp™ Ananas Anam UK Limited secured the finance from the Greater London Investment Fund (GLIF), provided by The FSE Group and backed by the Recovery Loan Scheme (RLS). The company is the creator of PIÑATEX®, an innovative material made from pineapple leaves, a by-product of the pineapple harvest.

This vegan, natural and sustainable alternative to leather is set to disrupt the fashion industry. PIÑATEX® from Ananas Anam has already been used by world renowned brands such as Nike, H&M, Paul Smith, Hilton Hotels and Hugo Boss. With a wide range of uses in fashion, accessories, homewares, and upholstery the material is set to be picked up by more prestige names which will be added to the company’s existing client list of leading brands.

The pineapple leaves used are a by-product of an existing harvest, meaning there is no additional environmental resource used in the production of the raw material. In fact, making PIÑATEX® is good for the environment as the manufacturing process releases far less CO2 into the atmosphere than burning the pineapple leaves or leaving them to rot.

Melanie Broyé-Engelkes, CEO at Ananas Anam, commented, “We are grateful for the support from The FSE Group which will enable Ananas Anam to further expand our team and operations; continuing to build PIÑATEX® globally and make even greater progress in realising the company vision of a more sustainable future”.

David Booth, Investment Manager for The FSE Group, who manages the £55 million GLIF debt fund on behalf of Funding London, commented: “The Circular Economy is a key area of focus for the Fund, and we are delighted to be able to support Ananas Anam as they pursue their growth ambition. The commercial traction they have been able to demonstrate to date is impressive and we are confident that they have a bright future ahead. We look forward to working with the Founder and her Senior Management team on the next stage of their journey.”

Maggie Rodriguez-Piza, CEO at Funding London, adds: “Ananas Anam is proof that much needed sustainable alternatives can be successfully developed to replace products with negative environmental impact. We are truly impressed by the versatility of this innovative product, its positive social and economic impact, and the calibre of brands the company already counts as clients. It is a pleasure to provide the financial support Melanie and the team need to take this business to the next level.”

GLIF is a £100m initiative to help address the SME finance gap in Greater London, promoting economic growth through enterprise and an inclusive and sustainable economy. £55m of debt funding is available, via loans between £100,000 and £1m, to early-stage and established SMEs looking to scale-up and realise their growth ambitions. GLIF is financed through the European Investment Bank (EIB), European Regional Development Fund (ERDF), London Waste & recycling Board (LWARB) and Funding London’s Legacies. The Recovery Loan Scheme is managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy & Industrial Strategy. British Business Bank plc is a development bank wholly owned by HM Government. It is not authorised or regulated by the PRA or the FCA. Visit http://www.british-business-bank.co.uk/recovery-loan-scheme

The Cornwall and Isles of Scilly Investment Fund (CIOSIF) has announced a £100,000 equity investment in Newquay-based artificial intelligence company SimSage as part of a £200,000 deal.

The investment round was led by the FSE Group as the appointed fund manager for CIOSIF and includes investment from a number of Angel investors working with corporate finance and venture capital company Mylor Ventures.

SimSage has developed an AI-powered search platform designed to dramatically reduce time spent searching for information, both for employees within organisations and on websites for customers. The system has been developed specifically to find relevant information within organisations, and where quite specific uses of English language is critically important.

It allows staff to quickly find documents, files and information from multiple systems using a single unifying search box, which improves productivity, removes the cost and complexity of document management systems and reduces business risk particularly around legislative compliance.

SimSage also allows customers to find exactly what they are looking for on a website, increasing website visitor engagement and sales, and reducing pressure on frontline staff having to deal with queries by telephone.

The business has an experienced management team led by Sean Wilson and Rock De Vocht who previously operated a similar business in New Zealand. SimSage is already working with four launch customers. Future customers are likely to include local government, where websites are key sources of information, and accountants, lawyers and utility companies.

Sean Wilson, Co-Founder and CEO of SimSage, commented: “The funding has come at an important time for the business as we look to accelerate our growth so we can reach more industries who will benefit from this product. Having supportive investors such as CIOSIF and Mylor Ventures will be key to underpinning our future aspirations.”

Ralph Singleton, Head of Funds at The FSE Group, added “We live in a very modern, fast paced world with information readily available at our fingertips but do not have time to waste trying to locate or extract the relevant data. We have all at some stage been frustrated by the mass of information on company websites when we can’t find what we are looking for. We look forward to working with SimSage to solve these new world problems.”

The £40m Cornwall & Isles of Scilly Investment Fund provides debt and equity finance from £25,000 to £2 million to help growing small businesses across the region. It has been established by the British Business Bank in partnership with the Cornwall and Isles of Scilly Local Enterprise Partnership (LEP).

Ken Cooper, Managing Director at the British Business Bank, said: “Through the British Business Bank’s regional funds we are actively supporting businesses that improve the efficiency of the UK economy through the use of technology. Supporting early-stage businesses as they fulfil their growth is an important component of helping generate economic growth in Cornwall.”

John Acornley, LEP non-executive director and chair of the CIOSIF Advisory Board, said: “SimSage uses some very sophisticated IT that can make businesses more productive and build better relationships with customers by helping them find what they need. Cornwall is growing force in the tech sector, and we are very pleased to see the fund supporting the growth of another technology company in the county.”

CIOSIF is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020.

Advisers on the transaction were: Field Seymour Parkes (FSE legals), Ignition Law (SimSage legals), and Mylor Ventures (SimSage corporate finance).

For more information about the Cornwall & Isles of Scilly Investment Fund including how to apply, please visit www.ciosif.co.uk  or follow the fund on Twitter at @CIOSIFBBB2

Read more about SimSage at www.simsage.ai

London based business Up Learn, has secured £600,000 debt financing from the Greater London Investment Fund (GLIF) to grow its platform, which helps A Level students achieve A / A* grades through optimised learning.

The funding will enable the business to expand its product offering, initially allowing Up Learn to cover more A level subjects. The company plans to expand further after this into other qualifications and curricula.

Up Learn was established by Imperial College London alumnus Guy Riese in 2016.  The platform uses Artificial Intelligence (AI) and complex cognitive science to help A-Level students achieve top results. It adapts to each student using algorithms which identify and focus on weak spots. Through the use of interactive videos and quizzes, the company creates a personalised learning experience for each user. This helps to build subject knowledge and enables students to learn more over a shorter than average time period.

Guy Riese, Founder and CEO of Up Learn, commented, “We work with many schools covering different exam boards and currently have over 8,000 users. Up Learn has helped 97% of students achieve top grades in the last two years of exams. The teachers we have at Up Learn are world class with decades of experience under their belt. Combined with this knowledge, they work with cognitive science researchers to produce effective study resources to best assist Up Learn students.”

For every fee-paying student, Up Learn provide a complimentary course to a student who can't, through its free school meals scholarships programme and charity partners, such as The Sutton Trust.

David Booth, Investment Manager for The FSE Group, who manages the £55 million GLIF debt fund on behalf of Funding London, added: “We were impressed by the commercial development which Guy has achieved to date and the opportunity for growth as Up Learn expands its curriculum coverage. We look forward to supporting Guy with his growth ambition as Up Learn continues to expand its service.”

Maggie Rodriguez-Piza, CEO at Funding London, adds: “Combining world-class teaching with the latest research and technology, Up Learn has gone from strength to strength since its launch in 2016.  Guy and his team have definitely capitalised on the accelerated demand for EdTechs and are now poised for excellent growth. I admire Up Learn’s mission to make an impact by extending the benefits of their growth to those students who have been most affected by the pandemic via their provision of complimentary subscriptions to students who would otherwise have no access. We are excited to support the curriculum expansion plans leading to further growth for the company over the coming years.”

GLIF is a £100m initiative to help address the SME finance gap in Greater London, promoting economic growth through enterprise and an inclusive and sustainable economy. £55m of debt funding is available, via loans between £100,000 and £1m, to early-stage and established SMEs looking to scale-up and realise their growth ambitions. GLIF is financed through the European Investment Bank (EIB), European Regional Development Fund (ERDF), London Waste & recycling Board (LWARB) and Funding London’s Legacies.

An East London based referral and advocate marketing platform has secured a £500,000 loan from the Greater London Investment Fund (GLIF) to expand its operations and create 6 new employment opportunities. 

The funding will enable Buyapowa to strengthen its team, helping them to achieve their growth plan over the next three years. The company will also be expanding its product offering whilst exploring more partnership campaigns.

Headquartered in London, Buyapowa also operates in France, Germany, Spain and Canada and was established in March 2011. The company’s ambition is to become the global platform leader in referral marketing, enabling enterprises to operate numerous “refer-a-friend” programmes. These employee referral solutions and customer loyalty schemes allow vouchers or cash rewards to be earned by a client’s customers and their friends and is one of the most powerful ways to acquire new customers.

Gideon Lask, CEO and Co-Founder of Buyapowa, commented: “We provide a white label platform to clients in 27 different countries spanning 23 languages. Our platform is used by innovative companies including Vodafone, BT, T-Mobile, First Direct & British Gas and enables them to focus on their customer-get-customer and invite-a-friend campaigns. The funding has come at an exciting time for the business as we strengthen the team which gives us the resources to take us to the next level.”

Marco Cerrone, Investment Manager for The FSE Group, which manages the £55 million GLIF debt fund on behalf of Funding London, added: “We were impressed with Buyapowa’s platform and their successful track record. Buyapowa boasts an impressive client list which spans over 100 enterprises incorporating leading brands and retailers. The platform allows clients to equip and incentivise their customers, through the power of word-of-mouth marketing. The business is going from strength to strength, and we are delighted to be supporting them on their journey.”

Maggie Rodriguez-Piza, CEO at Funding London, adds: “Buyapowa has an impressive track record under their belt. Gideon and his team have built an excellent product that delivers great value to its customers. We are thrilled that the capital provided by GLIF will help them expand the team and unlock further growth in the UK and other international markets.”

GLIF is a £100m initiative to help address the SME finance gap in Greater London, promoting economic growth through enterprise and an inclusive and sustainable economy. £55m of debt funding is available, via loans between £100,000 and £1m, to early-stage and established SMEs looking to scale-up and realise their growth ambitions. GLIF is financed through the European Investment Bank (EIB), European Regional Development Fund (ERDF), London Waste & recycling Board (LWARB) and Funding London’s Legacies.

Print and Digital media business, Country and Town House, based in the London Borough of Hammersmith and Fulham, has secured a £400,000 loan from the Greater London Investment Fund (GLIF).  The funding will enable the company to recruit additional staff across their marketing and sales departments and upgrade their web platform.

Country & Town House is the go-to destination for trusted, inspiring and uplifting content that enhances readers’ lifestyles wherever they live and champions living a balanced life. Underpinned by the values of Britishness, luxury and sustainability, Country & Town House reaches an audience of over half a million readers through its printed magazines and supplements, newsletters, podcasts and website. 

Country & Town House connects its readers with advertising partners through engaging and influential content across different lifestyle categories including Culture, Style, Interiors, Property, Schools, Food & Drink, Hotels & Travel and Health & Wellbeing, highlighting sustainable products, practices, brands and companies wherever relevant.

The business responded quickly to the impact of Covid-19 moving to bi-monthly print editions, supported by a greater focus on its digital offering.

Jeremy Isaac, Co-Founder & Managing Director of Country and Town House commented: “When COVID-19 hit, it was a challenging time for all companies in the media sector. As a business we took the decision to reduce the frequency of our print offering and ramp up our focus on the digital side. I firmly believe our digital strategy will be the key to maintaining our growth going forward.  The funding will allow us to further build upon the strong brand values from the print side of the business and roll these elements out digitally. The finance will also allow us to implement and support our digital strategy by being able to recruit a dedicated online team. Our thanks to The FSE Group for supporting our growth ambitions and helping us to secure the necessary finance.”

David Booth, Investment Manager for The FSE Group, who manages the £55 million GLIF debt fund on behalf of Funding London, commented: “Jeremy has established a strong London based media business with a focus on key markets in both print and digital. We were impressed by the business model, the management team and the willingness to adapt to change. We are delighted to be supporting Jeremy and his team and look forward to seeing their growth journey across the coming years.”

Maggie Rodriguez-Piza, CEO at Funding London, adds: “Being a serial entrepreneur, Jeremy is well equipped to identify opportunities even in the most challenging environments. The adoption of online delivery models has given resilience across many sectors under current circumstances.  We are delighted to support the expansion of Country and Town House’s digital team which will enable them to strengthen their market position and unlock growth in the future.”

GLIF is a £100m initiative to help address the SME finance gap in Greater London, promoting economic growth through enterprise and an inclusive and sustainable economy. £55m of debt funding is available, via loans between £100,000 and £1m, to early-stage and established SMEs looking to scale-up and realise their growth ambitions. GLIF is financed through the European Investment Bank (EIB), European Regional Development Fund (ERDF), London Waste & recycling Board (LWARB) and Funding London’s Legacies.

Southwark based technology platform business, Landmrk, has received a £225,000 loan from the Greater London Investment Fund via The FSE Group. The loan is backed by the Coronavirus Business Interruption Loan Scheme (CBILS).

The funding will enable 15 new jobs to be created within the company over the next three years whilst maintaining investment into further developing the existing platform, which is essential for the company as it adjusts to the “new normal” stage of operating in a COVID-19 impacted world.

Founded in 2017 by Seth Jackson as a spin out from his digital advertising agency, Strange Thoughts Ltd, Landmrk enables brands to run promotional campaigns by building smartphone web applications to engage their audiences.

The platform builds the campaign by placing digital content experiences at physical locations on a map in the real world. These promotions engage a brand’s followers, enticing them to find and unlock the experience by travelling to the location.

During COVID-19 times, the Landmrk platform has been modified to allow followers to unlock digital experiences in their own homes, keeping travel to a minimum.

Seth Jackson, Founder and CEO of Landmrk, commented: “With the loan received from GLIF via The FSE Group, we will be able to continue researching options and developing the app’s software to offer the best experience for both brands and followers in these challenging times. Over the next three years, the finance will help us expand our team by hiring 15 new employees to support the development and achieve our growth plans.”

Landmrk currently has two million users who have spent c40,000 hours on the platform. The easing of travel restrictions means the business can explore safe opportunities for them to resume unlocking experiences at specific locations when it is safe to do so.

Paul Shadbolt, Investment Manager for The FSE Group, which manages the £55 million GLIF debt fund on behalf of Funding London, commented: “Seth is a successful entrepreneur with previous experience of scaling up SMEs. Brands are always looking to enhanced engagement with their followers and the Landmrk app has been instrumental in producing strong marketing campaigns in this growth sector. Seth has demonstrated flexibility and adapted his product to the current economic climate and has a healthy pipeline. GLIF is keen to support innovative high growth businesses in Greater London, and with job creation for the local economy included in their plans, we were pleased to be able to offer Landmrk the loan funding they need to execute their expansion strategy.”

Maggie Rodriguez-Piza, CEO at Funding London, adds: “Seth and the team have demonstrated resilience and determination to adapt their business to succeed in the recent extremely challenging conditions. We are delighted that the GLIF loan will enable Landmrk’s team expansion and fuel their growth strategy.  As we emerge from travel restrictions, Landmrk is well poised to go from strength to strength”

GLIF is a £100m initiative to help address the SME finance gap in Greater London, promoting economic growth through enterprise and an inclusive and sustainable economy. £55m of debt funding is available, via loans between £100,000 and £1m, to early-stage and established SMEs looking to scale-up and realise their growth ambitions. GLIF is financed through the European Investment Bank (EIB), European Regional Development Fund (ERDF), London Waste & recycling Board (LWARB) and Funding London’s Legacies.

Hampshire based Online Safety have secured a £70,000 growth loan to further develop their web-based education and training platform which helps to keep children safe online.

Lee Hayward established Online Safety (OSUK) in 2018, bringing with him safeguarding experience and a passion for the subject. His drive comes from days spent as a police officer where he delivered tailored and specialised training on how to keep children safe online. Lee wanted to impart this knowledge further afield to a wider audience and realised that he had identified a need to not only progress online safety education to help families and school settings, but to educate any professionals or adults involved in that child’s network. All of this work has one aim: to help adults work together to better protect children whilst they are online.

Families can access OSUK’s age-specific web-based products which contain a vast library of self-help information and useful bitesize videos. These help people to easily learn about online safety together in a clear and concise way. This gives families confidence and a basic level of understanding in relation to online safety.

OSUK is also committed to training and educating schools for at least a year with face-to-face sessions and monthly calls, keeping teachers upskilled with the most current safety information. Likewise support service professionals can work with OSUK to attend online events and courses to help them put together bespoke packages to assist and support any families with whom they work.

Lee Heywood, Founder and Director of Online Safety, commented: “When I established OSUK, my vision was clear: to bring the right people together, to improve confidence and ability for everyone operating in the fast-paced digital world by increasing their understanding of the topic so that children could be better safeguarded. The funding received from the Enterprise M3 Expansion Loan Scheme will be used to market the roll-out of the premium subscription service, scheduled for this year and will also include the appointment of new employees to support this. I would like to extend my thanks to James at The FSE Group who guided me through the process to secure the funding.”

James Edwards, Investment Manager at The FSE Group, which manages the EM3 Expansion Loan Scheme on behalf of Enterprise M3 Local Enterprise Partnership (LEP), added: “In Lee, OSUK has a committed director with excellent sector knowledge and contacts. The service offered to schools is far superior to the few others that are available and as a result the company has a growing revenue stream from its services to schools and local authorities, with a customer retention rate at over 90%. With the recent addition of its app, the company is well-positioned to take advantage of the strong growth prospects in this expanding market and we look forward to working with Lee to help him achieve these goals.”

Kathy Slack, Director, Enterprise M3 LEP, comments: "Knowing how to keep children safe online is a worry for any parent, particularly given the wide use of gaming and home study tools now available. This innovative platform will play an important part in safeguarding young people and I’m delighted that Enterprise M3’s expansion loan scheme could help. It’s fantastic to see businesses such as Lee’s growing and attracting new employees, especially given the strong and growing pool of people with advanced digital skills in the EM3 area.”

THE POT KILN (Est.2005) is a destination Country Inn and Rustic Restaurant offering rural chic dining and seasonal menus of hearty and wholesome dishes. Set in a conservation area of outstanding natural beauty and on The Lord Iliffe’s Yattendon Estate, the Pot Kiln enjoys unrivalled access to nine thousand acres of woods and farmland with a nutritious wild food larder of game and seasonal foraging at its kitchen door. The Pot Kiln partners, Katie and Rocky, share a compassionate ideology to avoid produce from intensive farming practices and so promote respect and care for nature’s plants, animals and landscape.

While closed in 2019 for nine months and a £1.5 million renovation, a further twelve months of enforced closures followed, nevertheless, business has soared to a ten-year high. Strategic diversification has led to new revenues from ten en-suite guest rooms, venue hire for weddings and TV companies, an annual programme of cultural events, rural courses and members’ subscriptions from its dining club chaired by Raymond Blanc OBE. This month, following eighteen years of consistent five-star national media coverage and awards, the Pot Kiln has received a Michelin Good Cooking Plate Award and with reviews from millions of TripAdvisor travellers, a listing in the 10% of Top Restaurants Worldwide.

Back in 2019, The FSE Group, through the Thames Valley Berkshire Funding Escalator supported the business with expansion finance to expand its business and operations.

“It is fantastic to see the Pot Kiln thriving as we ease out of COVID-19 restrictions. The hospitality trade has been hit hard by the pandemic, with many restaurants and venues closing. But a loyal customer base and beautiful renovations have enabled the Pot Kiln to exploit its unique location and expand into a real multi-revenue enterprise. Encouraging times are ahead for Katie and Rocky - we look forward to watching their vision grow as they seek to establish a venue of culinary and cultural distinction.” Cheryl Weeks – The FSE Group / Head of Funds South-East

For more information about The Pot Kiln visit: https://www.potkiln.org/

For more information about The FSE Group and the Thames Valley Berkshire Funding Escalator visit: https://www.thefsegroup.com/fund/thames-valley-berkshire-funding-escalator/

A Coventry-based trampoline park has received a £300,000 loan for the purchase of additional equipment and a new inflatable park section.

Red Kangaroo secured the finance from the Midlands Engine Investment Fund (MEIF), provided by The FSE Group, Debt Finance Fund and backed by the Coronavirus Business Interruption Loan Scheme (CBILS).

This finance will allow the Coventry based park to strengthen its facilities, offering more activities for young people in the area. The additional equipment will also enable it to create a layout that follows government guidelines which adheres to social distancing. The park’s reopening is restoring around 40 jobs across the park.

Red Kangaroo is a large trampoline park, offering fun activities for children of all ages. It encompasses foam pits, a wipeout zone, an air bag and a mega slide, as well as the new inflatable park.

Paul Wrightman, Red Kangaroo Founder, said: “Following a fire that put the park out of action in 2018, our re-fit was put on hold last year due to coronavirus. This funding has enabled us to complete the work on the park and create an exciting new area to offer even more variety.

“To ensure we can offer the safest environment for our staff and customers, we have increased activities and put Covid-secure measures in place. We are grateful for The FSE Group’s support in taking us through the funding process and helping us secure the loan.”

Since the opening of the first indoor parks in 2014, trampolining has become one of the UK’s fastest growing sport and leisure trends. Red Kangaroo is ready for a projected rise in visitors over the coming months. Demand has remained high through the periods between lockdowns and with its increase in the range of activities on offer.

Chirag Mistry, Investment Manager at The FSE Group, which manages the MEIF Debt Finance Fund, adds: “Paul has extensive knowledge in the leisure industry and is a very committed and passionate owner. He has created an offering that meets the demands of customers seeking Covid-safe activities, as demonstrated by the high level of booking enquiries received prior to reopening. Due to the current restrictions placed on foreign holidays, I am sure that Red Kangaroo is likely to be a popular venue during the six-week summer holidays. We look forward to working with Paul and seeing how the next stage of his journey goes as he reopens.”

Ryan Cartwright, Senior Manager at the British Business Bank said: “The investment from the MEIF will support Red Kangaroo’s reopening – restoring up to 40 jobs. This will help boost the local economy, while supporting the firm’s ongoing growth plans, with the funding also being used to upgrade and expand its Coventry facility. We look forward to seeing the firm accelerate its recovery.”

Sean Farnell, board director at the Coventry and Warwickshire Local Enterprise Partnership, said: “Red Kangaroo has become a firm favourite with parents and children alike since it was established in our area and this funding will enable the business to extend the facilities it can offer. It is vital we help our businesses not only to recover from the pandemic but to enable their future growth. This fuels the short and long-term future success of Coventry and Warwickshire’s economy - the key driver of the CWLEP’s Strategic Reset Framework.”

The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

The Coronavirus Business Interruption Loan Scheme (CBILS) was managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy and Industrial Strategy (BEIS). The scheme ended on 31 March and has been replaced by the Recovery Loan Scheme.

The FSE Group, MEIF Debt Finance Fund provides loans between £100,000 and £1.5million to help growing SMEs across the region.

Oxto Energy has secured a £300,000 loan from the Enterprise M3 Short Term Loan Scheme to cover up-front costs for an overseas contract.

The finance will enable the company, which is headquartered in Guildford, to cover the advance payments for materials and sub-contractors that are required to fulfil its latest project to install ten flywheel batteries in Kenya.

Oxto has developed a new generation flywheel energy storage technology that can deliver safe, scalable energy storage at a competitive cost. The flywheel battery works alongside any renewable energy source, from large wind turbines to smaller electrical vehicle charging stations, stabilising and storing the electricity from these sources. This provides Oxto’s customers with reduced energy costs whilst helping them to achieve their sustainability goals.

George Prassinos, Founder and CEO of Oxto Energy commented: “The up-front costs associated with large contracts can be prohibitive to small businesses like ours. This finance gives us the capacity to take on the opportunities available and further the growth of the business. The FSE Group analysed our current pipeline and the companies we partner with and was able to provide the support needed for us to deliver this latest project.”

There has been a large growth in demand for cleantech power solutions globally, including in energy storage, which has traditionally been fuelled by diesel. Oxto Energy is constantly researching ways to design and manufacture comprehensive solutions that can meet the varied requirements of global companies and diverse electricity markets.

James Edwards, Investment Manager at The FSE Group which manages the EM3 Short Term Loan Scheme on behalf of Enterprise M3 Local Enterprise Partnership (LEP), added: “Oxto’s highly experienced and well-connected management team has successfully developed an innovative, market-leading technology that is gaining traction across the globe. With five contracts secured and a further 30 in the pipeline, they are well on course to reach their growth ambitions and we look forward to working with George and the team to see this delivered.”

Kathy Slack OBE, Director Enterprise M3 LEP, said: “Enterprise M3 LEP has put the global goal of Net Zero at the very heart of our economic recovery plan, so I am delighted that we’ve been able to help fund OXTO Energy to further develop its flywheel energy storage technology through a project in Kenya. This demonstrates the many opportunities available to businesses within the cleantech industry and I look forward to seeing more investments like this in the future.”

The EM3 Short Term Loan Scheme is part of the Enterprise M3 Funding Escalator, £10million initiative funded by Enterprise M3 LEP. The escalator, which also includes an expansion loan scheme and an equity growth fund, provides eligible companies with loans and equity funding between £50,000 and £300,000 for activities that will deliver high-growth and employment opportunities across the EM3 area.

For more information about the Enterprise M3 Funding Escalator please visit: https://www.thefsegroup.com/fund/enterprise-m3-funding-escalator/ or contact James Edwards at james.edwards@thefsegroup.com tel:  01276 608531 / 07384 8167 for more information about Oxto Energy, visit: www.oxtoenergy.com