Utonomy Secures 1m in Funding
21st April 2017
Utonomy, a Southampton, UK-based sustainability startup focused on reducing methane waste, secured Â£1m in funding.
Backers included LBA investors, the Institution of Mechanical Engineers’ Stephenson Fund and the Enterprise M3 Growth Fund.
Led by Adam Kingdon, CEO, Utonomy has developed a solution to optimize the pressure in the gas distribution networks. The company’s mission is to reduce leakage of the greenhouse gas, methane, from gas networks and thereby make a significant impact on climate change.
The company, based at the University of Southampton Science Park, is part of the Catalyst incubator program.
The investment will enable the company to complete product development and certification of its solution for reducing methane emissions, to expand its engineering team and to establish a new international sales and marketing base in Munich.
For more information on Funds, visit https://investment.newable.co.uk/.
Newable Ventures Limited (FRN 795277) is an Appointed Representative of Larpent Newton & Co Ltd. Larpent Newton & Co Ltd is authorised and regulated by the Financial Conduct Authority, FRN 141275.
Neither Newable Capital Limited nor Newable Private Investing Limited are Authorised and Regulated by the Financial Conduct Authority. Risk warning: Your capital is at risk. Investing in early stage companies involves risks including loss of capital, illiquidity, lack of dividends and dilution. Newable Ventures Limited does not give tax or investment advice.
The availability of tax relief depends on individual investors’ circumstances, and on investee companies’ qualifying status, both of which may be subject to change. If you are in doubt about eligibility for tax reliefs or the tax treatment of your investment, you should seek independent tax advice.