JAPANESE utility Osaka Gas is among new investors in Scottish heat energy storage pioneer Sunamp, which has secured a total of £2.2 million in a late seed-funding round.
The latest fundraising included further participation from Scottish Enterprise’s Scottish Investment Bank arm, Equity Gap, and PAR Equity, as well as new investors.
Sunamp, founded in 2006 by technology entrepreneur Andrew Bissell, plans to use the funds to expand its international footprint and scale up its operations further.
The company has developed a design for heat batteries containing non-toxic phase-change material. Sunamp’s heat batteries store available energy from renewable and non-renewable sources, releasing it on demand for hot water and central heating.
Mr Bissell said: “Thermal energy storage has a very significant role to play as communities worldwide strive to become sustainable and better places to live.”
He added: “Our technology is proven to lower carbon emissions and fuel costs.”
Sunamp heat batteries, which remove the need for a hot water tank or immersion heater, have so far been installed in more than 1,000 homes across the UK, with housing associations and housebuilders among those to have deployed the firm’s products.
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