A company making sustainable construction materials has raised almost £900,000 to help increase production of its flagship product.
Edinburgh-based Kenoteq’s K-Briq is manufactured from recycled construction and demolition waste, providing the construction industry with an alternative to conventional masonry products. The K-Briq contains less than 5% of the embodied carbon of a traditional clay brick.
It has been chosen for an NHS development in Wales, as well as theatre and restaurant projects in London, a bakery in Surrey and the Heriot-Watt university campus in Dubai.
The latest funding round was led by Kelvin Capital, supported by the Scottish Enterprise Co-Investment Fund and a number of existing investors. Discussions are ongoing with other prospective investors to raise fundingt to £2 million.
Chief executive Andrew Holt said: “This investment is another significant milestone for Kenoteq and reflects the confidence our investors have in both our technology and our commercial strategy.
“We have built strong momentum over the past year and are now seeing that translate into an increasingly exciting pipeline of commercial projects across multiple sectors. Securing work on major healthcare, hospitality and commercial developments demonstrates the confidence that clients are placing in our products and our team.”
He added: “This investment enables us to build on that momentum by increasing production, supporting further commercial growth and continuing to develop innovative products that help the construction industry embrace more circular building practices.”
Kelvin Capital director John McNicol said: “Kenoteq is exactly the kind of business Kelvin Capital likes to back: proven technology, a clear commercial strategy, and a team turning innovation into real-world impact.
“It’s exciting to see the K-Briq specified on major healthcare and hospitality projects and we’re delighted to lead this investment alongside the Scottish Enterprise Co-Investment Fund and Kenoteq’s existing backers. We look forward to supporting Andrew and the team as they scale up and deliver on their pipeline.”
Kelvin Capital is a private investment syndicate with more than 300 angel investors across the UK and a diverse portfolio of 22 investee companies valued collectively at more than £250m.
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