Innovatium Secures £3M Investment from Scottish National Investment Bank and Hitachi for Energy Storage Expansion
Innovatium Group Limited has secured a £3 million investment from the Scottish National Investment Bank and Hitachi Industrial Equipment Systems. The funding will be used to accelerate the deployment of its PRISMA™ Advanced Liquid Air Energy Storage system, aimed at data center applications. This investment is expected to create 30 jobs in Scotland over the next four years and will support the technology's scaling amidst rising energy demand and sustainability concerns.
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Innovatium Group Limited has received a £3 million investment from the Scottish National Investment Bank and Hitachi Industrial Equipment Systems to enhance its PRISMA™ Advanced Liquid Air Energy Storage system. This system uses off-peak electricity to liquefy compressed air, converting it back to energy when needed, and can reduce energy costs and CO2 emissions by up to 30%.
The funding will enable Innovatium to grow its workforce by 30 jobs in Scotland over four years, scale production, and expedite commercial rollout, particularly in data centers. Additionally, Hitachi will supply core components and assist in expanding Innovatium's sales internationally.
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