Trojan Energy secures £4.1 million seed funding

Trojan Energy, an Aberdeen-based green tech start-up, has secured a £4.1 million of seed funding.

The funding round includes £1 million investment led by Equity Gap, SIS Ventures, Alba Equity and the Scottish Investment Bank. They also received a further £3.1 million from Innovate UK.

The funding will help Trojan Energy support the roll-out of its on-street flat and flush electric vehicle charging points, which aims to solve the issue for vehicle owners who do not have access to off-street parking.

Ian Mackenzie, CEO, Trojan Energy said: “This is such an important milestone for Trojan Energy. Ever since we started this business, we have wanted to ensure that the benefits of the low carbon transition can be realised by everyone and not just those with a driveway. With this investment, our vision has moved a step closer. The rewards for our customers and our planet will be massive and prove the point that a big idea and great engineering can change the world.”

Fraser Lusty, Director, Equity Gap said: “We are pleased to back Trojan Energy and its strong Scottish team who have brought their expertise from the Oil & Gas sector to partner with industry, energy suppliers and councils to help accelerate the adoption of EV usage in dense urban areas where the technology is needed most. Their technology is pivotal to the greater adoption of EV’s, the future decarbonising of our transport infrastructure and central to the UK government’s target for net-zero emissions.”

Trojan Energy was founded in 2016 with the aim of solving the challenge of on-street charging for electric vehicles.

Trojan Energy secures £4.1 million seed funding

By Equity Gap18 Jun 2020