Scottish National Investment Bank

Scottish National Investment Bank invests and provides financial assistance to various business projects and communities. The bank offers both debt and equity to help transform Scotland's economy by backing sustainable projects and businesses.

Eilidh Mactaggart

CEO

Mark Munro

Executive Director - Sustainable Investment

Jane Reoch

Interim Executive Director

35 past transactions

NCIMB

Private Equity Round in 2025
NCIMB Ltd is a biotechnology company that specializes in microbiology and chemical services, established in the 1950s. It operates the largest industrial, marine, and food culture collection in the UK and has been delivering a wide range of commercial microbiology and chemical solutions since 1983. The company provides innovative microbial solutions across various sectors, including pharmaceuticals, industrial biotechnology, food and drink, energy, and environmental industries. Its core services encompass storage and preservation, identification, and strain characterization of microorganisms. Additionally, NCIMB engages in the development and preservation of valuable bacteria, assisting businesses in harnessing industrially and environmentally significant microorganisms.

Subsea Micropiles

Venture Round in 2025
Subsea Micropiles is a specialized foundations company that focuses on innovative micropile technology for subsea applications. The company develops advanced micropile foundations and anchor systems tailored for the renewable energy and offshore oil and gas sectors, as well as for high-value assets such as vessel anchorages. Their engineering team emphasizes alternative geotechnical strategies inspired by natural biological systems, like tree root structures, to address the challenges of working in complex environments. By leveraging their technology, Subsea Micropiles offers solutions that can support substantial loads while minimizing site disruption and environmental impact. This approach allows clients to effectively access challenging sites, reduce costs, and fulfill project requirements efficiently, with a strong commitment to meeting client objectives.

Pulpex

Series D in 2025
Pulpex is a developer of innovative packaging technology focused on creating sustainable paper-based bottles for liquids. Utilizing materials derived from renewable feedstocks and responsibly managed forests, the company produces packaging solutions that are fully recyclable without the need for new infrastructure. Pulpex's technology is designed to seamlessly integrate with existing filling systems, enabling manufacturers to implement sustainable packaging at an industrial scale. By providing eco-friendly alternatives, Pulpex aims to significantly reduce the environmental impact of traditional packaging materials in the beverage industry.

DITT Construction

Debt Financing in 2024
DITT Construction is a prominent construction company that offers a wide range of services across various sectors. It specializes in commercial, industrial, residential, and domestic projects, including complex civil engineering, large-scale civic and health projects, social housing schemes, private developments, and maintenance and refurbishment contracts. The company also operates a builder's merchants division, providing a comprehensive stock of products to meet its clients' needs. DITT Construction is committed to delivering safe, environmentally sound, and high-quality services that exceed customer expectations, all at competitive prices.

Leap Automation

Venture Round in 2024
Leap Automation provides food producers with end-of-line automation and machine vision systems. It reduces the dependency on manual labour for repetitive tasks.

ZeroAvia

Series C in 2024
ZeroAvia, Inc. is a company focused on developing zero-emission aircraft and hydrogen-electric propulsion systems aimed at transforming short-haul commercial aviation. Established in 2017 and headquartered in Hollister, California, with an additional office in Cranfield, United Kingdom, ZeroAvia is dedicated to eliminating aviation emissions while maintaining operational efficiency. The company's innovative powertrain utilizes a hydrogen fuel-cell system, allowing for retrofitting of existing aircraft and facilitating the adoption of sustainable aviation practices. By emphasizing scalable technologies, ZeroAvia seeks to partner with various stakeholders in the aviation industry to provide cleaner, more efficient flight options, thereby reducing costs and carbon dioxide emissions associated with air travel.

Highland Broadband

Debt Financing in 2024
Highland Broadband offers broadband technology services to homes and businesses.

iGii

Venture Round in 2024
Integrated Graphene specializes in the development of 3D graphene foam, utilizing an innovative manufacturing process that allows for the production of this material directly onto various surfaces at room temperature and within seconds. The company provides a customizable and scalable solution that enhances electrochemically active surface area and supercapacitor performance, promoting fast charging, extended battery life, and high power output. By addressing the cost, variability, and stability challenges commonly associated with traditional manufacturing processes, Integrated Graphene aims to deliver significant advantages to manufacturers across various industries.

Haventus

Debt Financing in 2024
Haventus is an energy management firm that focuses on facilitating the energy transition and supporting economic development.

Orbex Space

Series C in 2024
Founded in 2015, Orbex is a leading private launch services company in Europe, specializing in the small satellite industry. The company has developed a low carbon, high-performance micro-launch vehicle that supports the deployment of satellites into polar and sun-synchronous low Earth orbits from a modern launch site in central Europe. Orbex offers a flexible core launch service along with a range of supporting services aimed at simplifying the launch process for its customers. By operating from a European location, Orbex benefits from shorter supply lines, easier communication, and reduced operational costs. The company utilizes advanced materials and in-house technologies, including rocket engines and avionics, to ensure high reliability and flexible mission profiles, enabling timely launches for small, micro, and nano-satellites.

EnteroBiotix

Series B in 2024
EnteroBiotix Limited is a biotechnology company based in Edinburgh, United Kingdom, founded in 2017. It specializes in the research, development, and commercialization of orally available products for fecal microbiota transplantation. By utilizing bacterial communities derived from the human gastrointestinal tract, EnteroBiotix aims to restore health and prevent bacterial infections. The company focuses on creating microbial therapeutics, both allogenic and autologous, designed to address serious unmet medical needs. Its product pipeline includes high-diversity microbiome-modulating drugs tailored to fortify and restore the microbiome, enabling physicians to effectively prevent and treat various debilitating infections and diseases.

Calcivis

Venture Round in 2024
Calcivis is a privately held company founded in 2012 and headquartered in Edinburgh, Scotland. It specializes in developing and commercializing innovative dental imaging technology aimed at addressing significant unmet needs in dentistry. The company's core product is a platform designed to revolutionize the treatment of tooth decay by enabling dentists to visualize active decay early, potentially preventing cavities that would otherwise require drilling and filling. Calcivis operates a virtual development model, collaborating with contract research and manufacturing organizations predominantly based in Scotland.

Aurora Energy Services

Debt Financing in 2024
Aurora Energy Services is a specialized firm focused on supporting the global shift towards renewable energy. It provides comprehensive energy services, including construction, maintenance, and decommissioning support for various energy assets, such as wind turbines and offshore structures. The company's offerings span turbine blade services, inspection and repair, engineering, fabrication, site services, and ropes access services, aiming to maximize the lifespan and returns of energy assets for its clients. Backed by extensive industry knowledge and experience, Aurora's mission is to become a leading energy services provider, facilitating the transition from oil and gas to renewable energy sources.

Trojan Energy

Venture Round in 2024
Trojan Energy Limited is a UK-based company that specializes in providing innovative charging infrastructure solutions for electric vehicles. Incorporated in 2016 and located in Stonehaven, Trojan Energy focuses on the development and deployment of on-street flat and flush electric vehicle charging points. This initiative addresses the challenges faced by vehicle owners who lack access to off-street parking, enabling them to conveniently charge their vehicles wherever parking is available. By offering a practical and accessible charging system, Trojan Energy aims to enhance the user experience for electric vehicle drivers and support the broader adoption of electric mobility.

Cumulus Oncology

Seed Round in 2024
Cumulus Oncology Limited is a biotechnology company based in Edinburgh, United Kingdom, focused on developing innovative anti-cancer therapies for clinical settings characterized by high unmet medical needs. Established in 2017, the company targets critical pathways in cancer treatment to enhance the efficacy and outcomes of existing and experimental therapies. Cumulus Oncology's lead candidate is a preclinical oral Chk1 kinase inhibitor designed to facilitate DNA repair, thereby improving treatment effectiveness for cancer patients. The company is supported by a team of seasoned professionals and industry partners with extensive experience in drug discovery and development, providing valuable insights into optimal cancer treatment strategies.

Cyacomb

Venture Round in 2023
Cyacomb is a software company specializing in forensic analysis tools aimed at assisting law enforcement in the identification and prevention of harmful digital content. Its innovative software leverages contraband filter technology to enhance the detection of illegal material, providing an effective means for police forces to recover critical digital evidence efficiently. This technology enables law enforcement agencies, as well as social media and cloud service providers, to quickly identify and block content related to criminal activities, such as those connected to pedophilia and terrorism. By significantly reducing the time required to analyze digital evidence, Cyacomb enhances the capabilities of police forces, allowing them to operate more effectively in the digital age.

Krucial (formerly R3 IoT Limited)

Seed Round in 2023
R3 IoT enables organisations to access their critical operational data by automating the collection of sensor data. This data is transferred from remote operations to the cloud via satellite providing business leaders and operational management the capability to make better decisions and reduce inefficiencies.

Verlume

Venture Round in 2023
Verlume is a provider of innovative solutions for the underwater, offshore, and onshore sectors. The company specializes in developing and deploying subsea power hub technology that harnesses ocean currents and tides to generate clean electrical energy. This technology enables clients to reduce their carbon footprint by utilizing renewable energy sources without environmental pollution. Verlume's offerings help decarbonize operations across various industries, including oil and gas, offshore wind, and marine renewables.

Forrit Technology

Debt Financing in 2023
Forrit Technology is a developer of a cloud-based web content management system (CMS) tailored for enterprise clients. Its platform is designed to enhance the online customer experience by providing tools for collaboration, brand consistency management, and online security. By leveraging this technology, enterprise clients can improve operational efficiency, reduce risks, and ensure compliance with regulations. Forrit's focus on delivering a robust and secure CMS positions it as a valuable partner for organizations seeking to optimize their digital presence.

Highland Broadband

Debt Financing in 2023
Highland Broadband offers broadband technology services to homes and businesses.

Utopi

Series A in 2023
The multi-award winning ESG technology platform for multi-tenant real estate.

PneumoWave

Series A in 2023
PneumoWave is a company focused on developing advanced real-time monitoring solutions for patients with respiratory conditions. Utilizing proprietary sensor technology and an AI-driven digital therapeutic software platform, PneumoWave enables patients and healthcare providers to track respiratory rates and performance outside of clinical settings, such as at home or work. The company's innovative biosensors continuously capture and wirelessly transmit data for analysis, allowing for the accurate detection of various respiratory adverse events. This system includes an alert mechanism that promptly notifies healthcare professionals, facilitating timely interventions and improving patient outcomes. By enabling doctors to better manage medication use, identify early signs of deterioration, and reduce hospital admissions and in-person appointments, PneumoWave aims to transform respiratory care through proactive monitoring and intervention.

IndiNature

Venture Round in 2023
IndiNature is a UK-based manufacturer specialising in bio-based construction materials. It focuses on producing natural insulation products derived from locally sourced hemp crops. The company's primary goal is to provide sustainable alternatives to conventional building materials, contributing to environmental conservation and improved indoor air quality. Their products offer passive temperature and humidity regulation, ensuring durability and breathability while promoting a healthier living environment.

Orbex Space

Series C in 2022
Founded in 2015, Orbex is a leading private launch services company in Europe, specializing in the small satellite industry. The company has developed a low carbon, high-performance micro-launch vehicle that supports the deployment of satellites into polar and sun-synchronous low Earth orbits from a modern launch site in central Europe. Orbex offers a flexible core launch service along with a range of supporting services aimed at simplifying the launch process for its customers. By operating from a European location, Orbex benefits from shorter supply lines, easier communication, and reduced operational costs. The company utilizes advanced materials and in-house technologies, including rocket engines and avionics, to ensure high reliability and flexible mission profiles, enabling timely launches for small, micro, and nano-satellites.

Trojan Energy

Venture Round in 2022
Trojan Energy Limited is a UK-based company that specializes in providing innovative charging infrastructure solutions for electric vehicles. Incorporated in 2016 and located in Stonehaven, Trojan Energy focuses on the development and deployment of on-street flat and flush electric vehicle charging points. This initiative addresses the challenges faced by vehicle owners who lack access to off-street parking, enabling them to conveniently charge their vehicles wherever parking is available. By offering a practical and accessible charging system, Trojan Energy aims to enhance the user experience for electric vehicle drivers and support the broader adoption of electric mobility.

pureLiFi

Venture Round in 2022
pureLiFi Ltd. is a light communications technology company based in Edinburgh, United Kingdom, that specializes in developing Li-Fi, a visible light communications technology. By utilizing the visible light spectrum instead of traditional radio frequencies, pureLiFi enables wireless data communication. The company offers various products, including Li-1st, which allows customers to develop and test VLC applications; Li-Flame, a secure wireless network solution; and the Li-Fire Platform, which supports wireless communications through light. Its technology is applicable in diverse fields such as smart lighting, healthcare, aviation, and location-based services, addressing issues like RF spectrum relief and enhancing mobile connectivity. Originally founded as pureVLC Ltd. in 2012, the company rebranded in 2013 to reflect its focus on Li-Fi solutions.

Orbital Marine Power

Venture Round in 2022
Orbital Marine Power Limited is a pioneering company specializing in the development and commercialization of floating tidal stream and run-of-river hydrokinetic turbines. Established in 2002 and based in Kirkwall, United Kingdom, the company aims to reduce the costs associated with electricity generation from tidal energy through low-cost installation, maintenance, and decommissioning practices. Orbital Marine Power offers various turbine models, including the SR250, a 250 kW prototype, the Orbital O2, a 2 MW commercial turbine, and the SR2000, designed for fast tidal current regions. The company's innovative floating tidal energy converters are moored in powerful tidal streams or river currents, utilizing rotors to harness the dense energy flow, thereby providing communities and businesses with affordable, clean energy. Formerly known as Scotrenewables Tidal Power Ltd., the company rebranded in October 2018 to better reflect its mission and advancements in tidal energy technology.

Elasmogen

Venture Round in 2022
Elasmogen Ltd is a biopharmaceutical company based in Aberdeen, United Kingdom, founded in 2014. The company specializes in discovering and developing novel therapies for inflammatory eye diseases and other autoimmune conditions. Elasmogen's primary innovation lies in its proprietary soloMER technology, which consists of small, stable proteins derived from variable new-antigen receptors (VNARs) found in sharks. These next-generation therapeutics are designed to be significantly smaller and more robust than traditional antibodies while avoiding complex patent landscapes. Elasmogen's pipeline includes various candidates targeting autoimmune-mediated inflammatory diseases, such as ELN/21 and ELN/22, as well as soloMER-drug conjugates and NDure, which enhances the plasma half-life of therapeutic molecules. The company has established strategic partnerships with Almac Discovery Ltd and Merck Inc., and it possesses a comprehensive intellectual property portfolio that includes exclusive licenses for over 20 patents across multiple jurisdictions.

Aberdeen Harbour Board

Debt Financing in 2022
Aberdeen Harbour Board operates as a key maritime transportation organization and logistics hub in the Port of Aberdeen. It offers a diverse range of facilities catering to various sectors, including oil and gas, renewable energy, freight, cruise, and ferry services. The organization focuses on providing value-added solutions aimed at reducing risks and project costs for its customers. Committed to maintaining high safety standards and environmental stewardship, Aberdeen Harbour Board plays a vital role in supporting the development of sustainable port operations, contributing to economic prosperity in the region.

Sunamp

Convertible Note in 2021
Sunamp Ltd. specializes in the design, production, and sale of innovative heat battery systems that provide efficient thermal energy storage for both residential and industrial applications. Founded in 2006 and headquartered in Macmerry, East Lothian, Scotland, the company offers a range of products, including the UniQ heat batteries for upgrading hot water and heating systems, SunampPV for storing excess solar energy as heat, and SunampStack, which enhances the performance of renewable heat sources like air source heat pumps. Sunamp also develops the SunampCube for large-scale community and commercial heat storage and is exploring applications in the automotive sector. Utilizing phase change materials, Sunamp's heat battery technologies are compact, stable, non-toxic, and enabled for Internet of Things integration, making them a clean and cost-effective solution for thermal energy storage.

TIDAL

Debt Financing in 2021
TIDAL is a global music and entertainment platform dedicated to connecting artists and fans while providing exclusive access to high-profile content, including music, videos, livestreams, tickets, merchandise, and live experiences. The platform features a catalog of over 50 million songs and 200,000 high-quality music videos, and offers original content such as podcasts, video series, and artist documentaries. Available in 52 countries, TIDAL has livestreamed more than 120 concerts and facilitated the sale of 325,000 concert tickets, alongside hosting numerous exclusive events for its members. This subscription-based service emphasizes lossless audio and high-definition music videos, ensuring a premium experience for users seeking curated editorial content.

IndiNature

Venture Round in 2021
IndiNature is a UK-based manufacturer specialising in bio-based construction materials. It focuses on producing natural insulation products derived from locally sourced hemp crops. The company's primary goal is to provide sustainable alternatives to conventional building materials, contributing to environmental conservation and improved indoor air quality. Their products offer passive temperature and humidity regulation, ensuring durability and breathability while promoting a healthier living environment.

Krucial (formerly R3 IoT Limited)

Seed Round in 2021
R3 IoT enables organisations to access their critical operational data by automating the collection of sensor data. This data is transferred from remote operations to the cloud via satellite providing business leaders and operational management the capability to make better decisions and reduce inefficiencies.

Cyacomb

Cyacomb is a software company specializing in forensic analysis tools aimed at assisting law enforcement in the identification and prevention of harmful digital content. Its innovative software leverages contraband filter technology to enhance the detection of illegal material, providing an effective means for police forces to recover critical digital evidence efficiently. This technology enables law enforcement agencies, as well as social media and cloud service providers, to quickly identify and block content related to criminal activities, such as those connected to pedophilia and terrorism. By significantly reducing the time required to analyze digital evidence, Cyacomb enhances the capabilities of police forces, allowing them to operate more effectively in the digital age.

North Star

North Star owns and operates the largest wholly UK-owned fleet engaged in the UK’s offshore industry in the North Sea, providing the comprehensive operational experience of the seas around the UK coastline. Our clients rely on our advanced vessels and the unrivaled experience of our highly trained crews to provide offshore infrastructure support 24/7 365 days of the year.
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