BBC: Gas compressor maker Vert Rotors has been given a £1.5m funding boost to scale up manufacturing at its factory in Edinburgh.
Copied from: BBC Scotland Business
Gas compressor maker Vert Rotors has been given a £1.5m funding boost to scale up manufacturing at its factory in Edinburgh.
The money was raised by angel syndicate Equity Gap, along with venture capital firm Par Equity, US syndicate Aero-Den and the Scottish Investment Bank.
The move has led to five new skilled jobs which have been filled by former oil and gas supply chain workers. The company said it planned to add further posts in the future.
Vert Rotors was founded by Olly Dmitriev in 2013 and produces ultra compact low-vibration gas compressors for aerospace, medical and other applications.
The funding will be used to increase capacity at Vert’s manufacturing facility in Gracemount and expand its customer base. Mr Dmitriev said:
“This investment brings valuable highly skilled manufacturing jobs to Edinburgh and allows Vert Rotors to increase our sales outreach. Our products are fully manufactured in Scotland and exported to Europe and the USA. We look forward to scaling up our operations following this investment.”
Jock Millican, from Equity Gap, said:
“Vert Rotors has potential to disrupt the established marketplace significantly with its high quality products. Olly has an excellent track record in business and has a clear vision for the future of the company.”