NGenTec secures funding for novel generator technology
A spinout company from the School of Engineering at Edinburgh University has secured an investment of £2m from Amsterdam-based SET Venture Partners and Scottish Enterprise’s Scottish Co-investment Fund.
The £2m equity investment will allow NGenTec to prove its novel generator technology at a 6MW scale. Specifically, NGenTec intends to design, build and test a generator that could be stacked along the shaft of a wind turbine.
The investment follows a recent £800,000 grant from the Department of Energy and Climate Change’s (DECC) Environmental Transformation Fund.
Derek Shepherd, chairman of NGenTec, said: ’We are delighted to have secured this investment from SET and SCF. We are now in a position to prove our novel generator technology and move towards manufacturing our generators and taking them to market.’
NGenTec’s generator technology has been developed over the last five years with the support of grants from the Scottish Enterprise’s Proof of Concept Fund. The company has benefited from the support of Scottish Development International, Scottish Enterprise’s SMART grant scheme and the Scottish Enterprise High Growth Unit.
Based in Edinburgh, NGenTec is expected to expand its workforce by 20 over the next two years.
Register now to continue reading
Thanks for visiting The Engineer. You’ve now reached your monthly limit of news stories. Register for free to unlock unlimited access to all of our news coverage, as well as premium content including opinion, in-depth features and special reports.
Benefits of registering
-
In-depth insights and coverage of key emerging trends
-
Unrestricted access to special reports throughout the year
-
Daily technology news delivered straight to your inbox
Experts speculate over cause of Iberian power outages
The EU and UK will be moving towards using Grid Forming inverters with Energy Storage that has an inherent ability to act as a source of Infinite...