LIND, a pioneer in alternative battery storage systems has closed a £900K seed investment deal with funding from the University, Scottish Enterprise and Green Angel Ventures.
The investment, led by Green Angel Ventures, will drive innovation and commercialisation efforts, mainly focusing on introducing ground-breaking battery technology designed to operate efficiently at elevated temperatures.
The University of Strathclyde investment came from the Strathclyde Inspire Entrepreneurs Fund and the Stephen Young Entrepreneurship Awards. In September 2021, the University received a donation from alumnus and global business leader Dr Charles Huang from his philanthropic foundation. This transformational gift funds the Stephen Young Entrepreneurship Awards, the Stephen Young Global Leaders’ Scholarship Programme and the Stephen Young Institute, all launched in honour of Dr Huang’s PhD mentor, Professor Stephen Young.
Founded in 2019, LIND has collaborated closely with the University on pioneering electrochemistry research. The company's headquarters are in Kinross, where their experts are advancing alternative battery and heating products, and they also have a laboratory on the Strathclyde campus, within the Glasgow City Innovation District.
Unlike conventional lithium-ion batteries, LIND's innovative battery technology has a lifespan of more than 20 years. It is precisely engineered to excel in hot climates and heating systems, offering a non-toxic and scalable solution for domestic households and large industrial applications.
Dr Declan Bryans, Chief Technology Officer at LIND, said: "We are excited about the possibilities this investment opens up for us. With our partners' support, we can expedite our research and development, introducing innovative energy solutions to the market. This technology benefits our end-users by empowering them to lower their environmental footprint and rewards them with substantial savings on their energy bills, fostering a greener and more economically sustainable future."
Director of Innovation & Industry Engagement at the University of Strathclyde, Meryl Levington, said: "We are proud to support LIND's growth and ambitions through our Strathclyde Inspire Entrepreneurs Fund and Stephen Young Entrepreneurship Awards, alongside our investment partners.
“It is an exciting spin-in company and underlines Strathclyde's commitment to supporting entrepreneurs and innovative companies who make a positive difference."