AN East Lothian technology firm that is improving energy storage for hot water and heating in homes and businesses is on track to further disrupt the global market after securing £2.2 million in seed funding.
Sunamp, established by tech entrepreneur Andrew Bissell 12 years ago, specialises in thermal energy storage.
Its heat batteries store energy from renewable and non-renewable sources and release it on demand in the form of cascades of hot water and ultra-responsive central heating.
This latest round of seed funding attracted a number of investors, including Scottish Investment Bank, Equity Gap, PAR Equity and several new participants, among them the Japanese energy utility Osaka Gas.
The company plans to use the funds towards expanding its international footprint and further scaling its operations.
Sunamp heat batteries have been installed in more than 1000 homes across the UK, and the company recently launched its third generation UniQ range of heat batteries.
These have a proven life cycle of over 40,000 cycles with no degradation, the equivalent to more than 50 years of normal use. The company has the potential for growth globally in the built environment and many other sectors including commercial, industrial and automotive markets. It has spent much of the early stages of development refining its product and establishing manufacturing facilities in the Edinburgh City Region.
Housing associations are using the technology to cut fuel bills for thousands of tenants by harnessing renewable energy and storing it as heat to produce heat and hot water, without a hot water tank or immersion heater.
Bissell, Sunamp’s CEO, said “Thermal energy storage has a very significant role to play as communities worldwide strive to become sustainable and better places to live. Our technology is proven to lower carbon emissions and fuel costs. We’re delighted to have the continued support of our existing investors and to welcome new investors at this round as we power ahead to grow our business and address climate change in partnership.”
Why are you making commenting on The National only available to subscribers?
We know there are thousands of National readers who want to debate, argue and go back and forth in the comments section of our stories. We’ve got the most informed readers in Scotland, asking each other the big questions about the future of our country.
Unfortunately, though, these important debates are being spoiled by a vocal minority of trolls who aren’t really interested in the issues, try to derail the conversations, register under fake names, and post vile abuse.
So that’s why we’ve decided to make the ability to comment only available to our paying subscribers. That way, all the trolls who post abuse on our website will have to pay if they want to join the debate – and risk a permanent ban from the account that they subscribe with.
The conversation will go back to what it should be about – people who care passionately about the issues, but disagree constructively on what we should do about them. Let’s get that debate started!
Callum Baird, Editor of The National
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here