Cleantech trailblazer Innovatium has announced an investment injection of £3 million from the Scottish National Investment Bank (SNIB) and Hitachi Industrial Equipment Systems (HIES), set to accelerate commercialisation of its innovative liquid air battery technology.
Based in East Kilbride, Innovatium is the pioneer behind the PRISMA Advanced Liquid Air Energy Storage system, designed to store excess renewable electricity and tackle the intermittent challenges of green power. The newly secured funding will be channelled toward the expansion of Innovatium’s team, scaling up production, and accelerating deployment of the PRISMA system, particularly targeting high-demand sectors such as data centres.
Innovatium CEO Brian Jack commented on the transformative impact of the funding, saying:
“We’ve entered a new and very exciting growth phase for us which includes immediate plans to expand our team, advance PRISMA technology, and build additional depth within the business to meet rising demand from customers. This investment gives us the platform to scale-up significantly and we can now offer a much broader portfolio of solutions, creating new value for our customers in the UK and globally. We have never been better placed to deliver solutions to support the energy transition.”
Strategic Support from Hitachi and the Bank
This investment marks the first time Hitachi Industrial Equipment Solutions has backed a Scottish company. Beyond capital, HIES will supply core compressor components for the PRISMA system and leverage its global sales network to boost Innovatium’s reach.
Ailsa Young, Investment Director at the Scottish National Investment Bank, highlighted the strategic significance:
“Innovatium’s novel, patented technology is highly scalable and has the potential to significantly reduce industrial carbon emissions across a range of energy-intensive industries, including data centres where the rapid acceleration of AI has caused environmental concern. As an impact investor, we were attracted to Innovatium’s potential to be a driver of Scotland’s net-zero economy, and we are pleased to be investing alongside Hitachi Industrial Equipment Systems, which will also be supporting the commercial rollout of PRISMA.”
The investment is projected to create 30 jobs in Scotland over the next four years and positions Innovatium as a leading force in energy storage technologies for the net-zero transition.
