A company whose mission is to make wind energy economically viable has secured significant backing from investors, including the University of Strathclyde.
Regeno, based in Glasgow City Innovation District, and founded by Strathclyde alumnus Adarsh Bhardwaj, has created a unique wind turbine design that can be serviced from ground level. Parts can be replaced without need of large cranes or special offshore equipment, which means installation costs are lower, repairs are quicker, and clean energy can be expanded more easily.
The latest investment round was supported by a consortium including the University of Strathclyde, SFC Capital, Scottish Enterprise, One Planet Capital, Gabriel Investment Syndicate and the British Business Bank.
Entrepreneurial help
Adarsh received start-up advice, early-stage funding and a place on the University’s start-up Accelerator programme through Strathclyde Inspire, which provides entrepreneurial training and opportunities to students, staff and alumni. Regeno also benefited from a Stephen Young Entrepreneurship Award, which provides prizes, grants and investment to early-stage entrepreneurs.
Anne Henderson, the University’s Head of Investment said:
Regeno exemplifies the practical, mission-driven innovation we champion at Strathclyde. By enabling wind turbines to be serviced from ground level, the company is removing key barriers to clean energy adoption, making wind power more accessible for communities and businesses.
“Our investment, via the Strathclyde Inspire Entrepreneurship Fund, and the Stephen Young Entrepreneurship Award, underlines our commitment to practical, scalable cleantech built in Scotland. We’re delighted to support Adarsh and the team as the company enters its next phase of testing and commercialisation."
Practical technologies
Adarsh, who is CEO of Regeno, said: “This investment represents strong validation of both our technology and our vision. The UK relies too heavily on outdated and impractical green energy solutions, and there is a huge need for technologies that are practical and customer-focused if we are to meet our ambitious targets.
“We are proud to have our mission backed by such experienced climate and innovation investors as we move into our next phase of deployment.”
Adam Beveridge, Principal at lead investor SFC Capital said: “Wind energy has enormous potential, but there are many structural hurdles. Regeno's turbine design tackles these issues directly with a practical, ground-level approach that makes wind power more accessible and affordable.”
Completing the round were Scottish Enterprise and the British Business Bank who are supporting mission led companies in supporting the growth of the economy and international trade.