The company now holds an aggregate equity stake of 25% in Proven Energy following the transfer to the company of the initial equity investment for £650,000 on LCA’s admission to AIM.
Proven Energy produces small-scale, high-performance wind turbines. Proven’s clients include Shell, for whom it provides marine-grade, explosion proof wind-turbines to power offshore gas platforms in the North Sea, as well as Sainsbury’s, B, and T-Mobile.
The initial investment from LCA allowed Proven to begin a scale-up of its production facilities as well as announce major expansion plans including an onshore initiative, Windcrofting to encourage the development of mini-windfarms across the
Andrew McMullan, Managing Director of Proven Energy, commented: ‘As well as playing our part in the creation of the low-carbon economy, we will also be creating new jobs in the local Scottish economy. In addition, a proposed joint venture in