Vert Rotors wins top prize at the British Private Equity and Venture Capital Association awards
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Vert Rotors, the Edinburgh-based maker of ultra-compact gas compressors, has won the top prize for the venture-backed management team of the year at the British Private Equity and Venture Capital Association (BVCA) awards in Edinburgh.
Olly Dmitriev, who founded Vert Rotors in 2013 and who also was a winner at the recent Made in Scotland awards, accepted the award on behalf of his firm which was commended for its excellent leadership in navigating technological challenges to deliver a high-impact innovation.
Despite the firm’s relative youth, it has already secured customers such as the UK Ministry of Defence, and world-leading manufacturers of satellites and supercars.
The company’s compressors are designed for aerospace, medical and other applications where vibration and noise are not acceptable. Each component is made in its Edinburgh workshop using high-precision milling technology brought to the UK for the first time following a £1.5m cash injection by a consortium of investors, and a support grant from Scottish Enterprise.
“Our investors displayed exceptional foresight and vision, understanding the transformational potential of our technology and the impact it would have for many industries, including the aerospace and medical technology sectors,” Dmitriev said.
“At Vert Rotors we have a direct and energetic style of management. We work as a team to solve technical challenges and simply do not accept ‘no’ for an answer.”
Now in their 9 year, the BVCA Management Team Awards reward businesses up and down the country that are backed by private equity and venture capital investors. Many of Scotland’s best-known companies, such as Skyscanner, began life with venture capital funding in the UK.
Last night’s accolade in the latest award for Vert Rotors and Dmitriev, who in April was named Inventor of the Year at the Made in Scotland Awards organised by Business Insider.
The BVCA judges of last night’s awards commented: “Olly Dmitriev and his team team have built a new engineering product with disruptive performance and are manufacturing in Scotland for customers globally. The judges were impressed with the rapid integration of engineering breakthrough and commercial traction.”