Trojan Energy, of Aberdeen, has launched a £2 million growth project with support from public sector funding.
The electric vehicle charging technology firm aims to scale up development, research and new products, while also growing its workforce.
Trojan, which currently employs 63 full timers, said it expects to take on 10 more people as a result of the project.
Its growth plan is part-funded by an award of nearly £500,000 from the Scottish Government’s Low Carbon Manufacturing Challenge Fund.
Minister hails role of oil and gas ‘expertise and ingenuity’ in driving forward Scotland’s energy transition
Innovation Minister Richard Lochhead announced the support, made via economic development quango Scottish Enterprise (SE), during a visit to Trojan’s headquarters.
Mr Lochhead said: “Trojan Energy encapsulates how we can build on the oil and gas industry’s expertise and ingenuity to transition to a clean energy future.
“Scotland is perfectly placed to lead the development of a green energy revolution, with innovation the driving force behind transforming the economy and delivering a lasting improvement in Scotland’s economic performance.”
On-street EV charging for everyone 🔋
Trojan HUB is keeping your streets clear of clutter thanks to our flat and flush technology.
— Trojan Energy (@TrojanEnergyLtd) October 23, 2023
The minister added: “Tackling the challenges of growing Scotland’s charging network is a perfect example of how the Low Carbon Manufacturing Challenge Fund is supporting companies develop, expand or adopt technology that will help us achieve net-zero carbon emissions by 2045.”
Trojan chief executive Ian Mackenzie said the public sector funding would help the firm to keep more of its manufacturing in Scotland.
It will also see the company ramping up its investment in research and technolgy development.
Mr Mackenzie continued: “The fund is a great example of the public sector working in collaboration with the private sector to anchor green jobs and green manufacturing here in Scotland.
“Scotland is committed to reaching net-zero by 2045, just over 20 years from now,
“This represents both an immense opportunity and a huge challenge, with a global race now on to attract the low carbon businesses of the future, and secure the jobs and opportunities that come with energy transition.”
Trojan ‘primed for growth’
Paul Funnell, head of investment at SE, said: “Trojan’s innovative solutions will enable widespread deployment of on-street charge points at a relatively low cost, tackling a real and pressing need on the journey to net-zero.”
The company’s “unique” technology means it is “primed for growth” and well-positioned to expand into international markets, he added.
Trojan designs, manufactures, installs and maintains a “flat and flush” charging system which sits in the pavement and allows multiple charging points to be used in the street.
The technology helps keep pavements clutter-free, while solving the issue of charging for vehicle owners without access to off-street parking.
Mr Mackenzie quit the oil and gas industry several years ago to focus on the business, which he founded with three silent partners in 2016.
Trojan’s other funding to date
Since launching, Trojan has had support from organisations including Opportunity North East, Scottish Edge and Innovate UK, as well as SE.
The firm completed its first £1m funding round, led by angel investor Equity Gap in 2020. Since then, it has raised a further £12.5m, including £9m from the Scottish National Investment Bank alongside support from Ebico, Shancastle Investments, SE, Equity Gap, Alba Equity and SIS Ventures.
Trojan was initially run from the home of its chief executive but moved its headquarters and production facility to new premises in Altens Industrial Estate, Aberdeen, last year.