Utonomy secures £1m in funding
Utonomy, a Southampton, UK-based sustainability startup focused on reducing methane waste, secured £1m in funding.
Backers included LBA investors, the Institution of Mechanical Engineers’ Stephenson Fund and the Enterprise M3 Growth Fund.
Led by Adam Kingdon, CEO, Utonomy has developed a solution to optimize the pressure in the gas distribution networks. The company’s mission is to reduce leakage of the greenhouse gas, methane, from gas networks and thereby make a significant impact on climate change.
The company, based at the University of Southampton Science Park, is part of the Catalyst incubator program.
The investment will enable the company to complete product development and certification of its solution for reducing methane emissions, to expand its engineering team and to establish a new international sales and marketing base in Munich.