Tweed Renaissance Investors Capital (TRI Cap) announced this month an investment of £625k in Cumbernauld-based Gas Sensing Solutions Ltd (GSS). The investment includes matching funding from SE’s Scottish Co-investment Fund.
Gas Sensing Solutions was started last year to address major global opportunities in the gas sensor market.
TRI Cap members John Burgon and Professor Des Gibson join the board of GSS as non-executive finance director and chairman respectively. Burgon described the new company: “This is effectively a start-up scenario for a global business, which is very exciting for our syndicate. As part of the deal, I and my colleague Des Gibson will bring our extensive experience to bear, working closely with GSS to help steer the business through a steep curve, moving the company through prototype and then into full production. At the moment GSS is based in Cumbernauld but we would be delighted if the Scottish Borders were to benefit from the company’s future growth.”
A spokesperson for Gas Sensing Solutions said: “These are very exciting times for GSS. Although currently highly confidential, we believe our products will quickly become leaders in their field. We have been intensively supported by the Scottish Enterprise High Growth Start-Up Unit through our start up phase.”
GSS was advised by corporate finance specialists DC Consulting, who ensured the company was investor ready and identified TRI Cap as a best-fit investor.
Contact: John Burgon 07860 925900
www.tricapital.co.uk