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Somerset based green energy tech business, Gridimp has secured £250,000 debt funding from the British Business Bank’s South West Investment Fund via funding partner The FSE Group.

The company helps businesses join the flexible energy markets to improve sustainability and efficiency using their innovative energy technology.

Their technological and hardware solutions allow companies to monitor their energy usage in real time, and the AI technology helps customers make informed decisions to lower their carbon footprint and reduce costs. This data also gives Gridimp the power to integrate greener energy sources such as wind or battery storage into the existing grid infrastructure.

Enabling customers to use the smart grid easily is critical to the decarbonisation of the UK’s current energy supply and helps providers meet the increasing demand brought on by new sustainable technology like electric vehicles. As even more sources of renewable energy become available Gridimp’s research and development will ensure they continue to meet the needs of an ever-changing market.

Richard Ryan, Co-Founder and Commercial Director at Gridimp, said: “The world is moving towards renewable energy and a more efficient and robust energy grid. We are ready to lead the switch over to a modernised system of power distribution and consumption, giving added access to revenue generating flexibility markets for businesses. We are proud of our products which have come about as a result of collaborations with partners across the globe and are delighted to have received this funding from the South West Investment Fund, which will support our business growth and enable us to employ more staff and move to an office that better suits our needs and growing team.”

The British Business Bank’s £200m South West Investment Fund covers the entire South West region and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.

Rob Ward, Investment Manager at The FSE Group, added:“Gridimp is emerging as a market leader in a sector which is undergoing a desperately needed shake up in terms of sustainability. The dedicated team of engineers, data scientists and energy experts are clearly passionate about what they do and the company’s visionary approach. We were impressed by how easily Gridimp’s technology can be installed and by the value provided to their clients. We wish the team every success for the future and have no doubt about the positive impact they will have on the energy sector.”

Paul Jones, Senior Investment Manager, British Business Bank, said: “Supporting local businesses which drive the UK economy’s transition to net zero is integral to the vision for the South West Investment Fund. Businesses like Gridimp demonstrate how technological innovation in the South West is enabling businesses to make informed decisions about how to reduce their carbon footprint and save money in the process.”

The purpose of the South West Investment Fund is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the South West. The South West Investment Fund is increasing the supply and diversity of early-stage finance for South West smaller businesses, providing funds to firms that might otherwise not receive investment and helping to break down barriers in access to finance.

Connekt Group, a Scottish owned independent electric vehicle (EV) charging network and commercial installation business, has secured a £250,000 Investment Fund for Scotland (IFS) loan via appointed Fund Manager, The FSE Group.

The funding will be used to develop Connekt’s first three rapid charging hubs, enabling the company to expand its proven hub model contributing to national sustainability goals and supporting the transition to electric vehicles.

The British Business Bank’s £150m IFS covers all areas of Scotland – Greater Glasgow, Greater Edinburgh, Aberdeen and North East, Dundee and Tayside, South of Scotland and the Highlands and Islands and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.

Connekt Group specialises in the installation and management of commercial EV charging solutions across various sectors, including hospitality and corporate offices. It boasts an impressive network reliability with a 99.13% operability rate, underpinned by real-time data monitoring. The company aims to fill the gap in Scotland’s currently unreliable EV charging infrastructure by offering dependable and accessible charging solutions, supporting the Scottish Government’s objective of widespread EV adoption by 2030.

With 14 million tourists visiting Scotland each year, Connekt’s strategic placement of charging hubs at key tourism locations positions the company for sustained growth.

Connekt Founder and Managing Director, Johnny Manning, said: “We are thrilled to receive this IFS loan via The FSE Group, which will help us play a pivotal role in propelling Connekt’s strategy in the rapid charging market whilst supporting Scotland’s green transition. Growth funding for early-stage businesses is limited but vital – with this support we are able to continue our work towards becoming a leader in the EV charging sector, driving the adoption of sustainable energy solutions across the nation.”

Jim Pritchard, Investment Manager at The FSE Group, added: “As the only privately-owned EV charging network in Scotland, Connekt is uniquely positioned in a high-growth niche, leveraging its reliable network and strategic market insights. Its robust management team, solid business model and strong growth trajectory present a compelling investment opportunity that we are delighted to support.”

Mark Sterritt, Director, Nations and Regions Funds, at the British Business Bank, added: “Smaller businesses have an important role to play in Scotland’s transition to net zero, with firms providing technology and infrastructure for decarbonisation at the heart of it. However, access to finance is key to supporting their growth, allowing them to scale and make the most of growing demand for their services. Connekt is a great example of the type of business with high-growth potential that the IFS was set up to support and we look forward to seeing the wider roll out of its technology.”

The purpose of the Investment Fund for Scotland is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across Scotland. It will increase the supply and diversity of early-stage finance for Scotland smaller businesses, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.

SMEs across Yorkshire and Humber are growing and creating jobs with investment from Finance Yorkshire.

The funding body’s loans fund is supporting businesses expand by investing in technology, marketing spend, new product development and the hiring of new staff.

Finance Yorkshire’s loans fund provides investments to SMEs of between £25,000 and £250,000.

Wetherby based video production and animation company Reel Film Media has received £70,000 from the loans fund. The investment is being used to increase its marketing and sales capacity including the appointment of new staff.

Reel Film will also use the investment to attract potential customers by generating new content for its website. In addition, the company has hired a content creation lead to provide a new service for clients.

Founder Adam Chandler said: “Finance Yorkshire has been great. They saw the vision we have for the business and feel more like a partner rather than just a funder. The investment will make a big difference to our marketing strategy and accelerate where we want to go with the business.”

Finance Yorkshire’s loans fund is also supporting Trustist, an award-winning customer reviews platform company based in York with high profile clients including Timpsons, Johnsons the Cleaners and Max Spielmann.

Trustist enables clients to see their online reputation in one place. It aggregates reviews from different sites which can be viewed, managed and displayed on a single dashboard.

Trustist is using its £250,000 investment to develop its own technology, marketing and hire more staff.

Founder Nigel Apperley said: “Finance Yorkshire’s investment is essential to us being able to grow the business. We are recruiting more developers who will be based in York and have plans to develop franchising as a route to growing Trustist and its reach even further.”

Finance Yorkshire chief executive Alex McWhirter said: “Our loans fund is a key route to access to finance for the region’s SMEs and is supporting exciting growth in a number of sectors particularly creative, digital and tech.

“SMEs see us as a trusted partner in their businesses as witnessed by Reel Film and Trustist who are expanding at pace and importantly creating jobs in Yorkshire and Humber. We are delighted to support them in their growth journeys.”

Finance Yorkshire’s loans fund is aimed at established or growing businesses looking for expansion finance.

To qualify for a loan, companies must be paying business rates in the Yorkshire and Humber region or wish to relocate.

The funding available is to enable businesses to invest in scaling up activities that will deliver substantial growth impact such as sales and marketing; hiring new staff; new product development; entering new markets; purchasing new equipment; and working capital.

Joiin Ltd, an innovative provider of integrated accountancy software solutions, has secured a £250,000 South West Investment Fund (SWIF) loan via appointed Fund Manager, The FSE Group, to support business growth.

Based at Exeter Science Park, Joiin provides low cost fintech solutions that integrate seamlessly with accountancy software to create consolidated and group reports for businesses. By automating this process, Joiin’s platform not only saves time but also enhances accuracy by eliminating human error and offering multi-currency reporting capabilities.

The company has already experienced rapid expansion, boasting an impressive year-on-year growth rate of 89% in 2024 and is now serving thousands of customers across more than 100 countries.

The South West Investment Fund covers the entire South West region and provides loans from £25k to £2m and equity investment up to £5m to help small and medium sized businesses to start up, scale up or stay ahead.

Lucien Wynn, CEO of Joiin, said: "This South West Investment Fund loan will enable us to hire new staff members in roles that are crucial for our continued growth and commitment to providing top-tier solutions for our clients. It is great to be working with a funder who understands this and is prepared to invest in our future potential. We look forward to working with the FSE team on this journey."

Clare Lenihan-Thomas, Investment Manager at The FSE Group, commented: "Joiin’s established product, strong reputation, and impressive market traction make them a standout in the fintech space. We believe in their vision and are confident this funding will help accelerate their expansion, ultimately enabling them to take advantage of further global opportunities including in Australia and the US."

Jody Tableporter Director, Nations and Regions Investment Funds, at the British Business Bank said: “Joiin is a great example of an innovative business in the fintech sector that is leveraging the South West Investment Fund to drive growth and expand their market presence. By providing critical financial support, the Fund is not only enabling Joiin to scale its operations and create new job opportunities, but is also contributing to the broader economic development of the South West region."

The purpose of the South West Investment Fund is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the South West. The South West Investment Fund is increasing the supply and diversity of early-stage finance for South West smaller businesses, providing funds to firms that might otherwise not receive investment and helping to break down barriers in access to finance.

New Motion Labs (NML), a developer of innovative drivetrain technology for the mobility and industrial markets, has secured over £890,000 equity investment from the South West Investment Fund via appointed Fund Manager, The FSE Group.

The investment is part of a wider £1.8million funding round designed to support business growth and will bolster a variety of  activities including product development, sales and marketing, and the creation of new jobs.

Exeter-based NML's patented and award-winning Enduo technology has re-engineered the traditional chain and sprocket to reduce wear, enhance component lifetime, reduce energy loss, and lower manufacturing costs, while offering retrofit capabilities.

It has already found success in track cycling and e-bike markets, including cargo e-bikes and shared e-bikes, resulting in significant reductions in energy consumption and maintenance requirements.

NML is now targeting the global industrial sector, where chain failure presents a costly challenge across thousands of manufacturing processes. Applications for Enduo are extensive and NML is poised to deliver reliable solutions across industries such as automotive and food and beverage.

Damien Murphy, NML CEO, said: "This funding marks a pivotal milestone in NML's journey, enabling us to accelerate our growth trajectory, expand our product offering and further penetrate the industrial market. The FSE Group has been working alongside us to help secure co-investors in a challenging investment market and we are grateful for their belief in our game-changing technology and the support of the South West Investment Fund."

Ralph Singleton, Head of Equity Investment at The FSE Group, added: "This experienced and knowledgeable management team boasts an impressive track record and influential industry connections. NML's robust R&D capabilities, strong IP position, and the proven efficacy of their Enduo technology position them uniquely to address critical pain points in both the cycling and industrial sectors. We are confident in their vision and the potential for substantial market impact and look forward to continuing to work with them as they enter this next phase of growth."

Paul Jones, Senior Investment Manager, British Business Bank: “NML have reengineered the sprocket and chain technology for the first time in over a century with the aim of applying it to potentially thousands of industrial and manufacturing applications worldwide. The South West Investment Fund exists to support the growth of innovative businesses in the region and this deal is a great example of that.”

The South West Investment Fund covers the entire South West region and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.

The purpose of the Fund is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the South West by increasing the supply and diversity of early-stage finance, breaking down barriers and providing funds to firms that might otherwise not receive investment.