News

Hayle based Triskel Marine, a world leading disruptive technology company in the marine industry sector, has secured £350,000 investment to safeguard 19 roles and strengthen the team with the addition of a sales manager and an operations manager.

Triskel Marine uses its Integrel (which stands for Intelligent Generation of Electricity) technology to collect excess energy from a boat’s inboard engine and stores it in batteries for later use. The system replaces the need for a standalone generator without compromising engine performance. Stored energy can be used later to power lights, ovens, air conditioning, refrigerators and water makers, reducing marina hook-up costs.

Trevor Howard, Managing Director of Triskel Marine, commented: “We are really pleased that our product is seen as the future of power generation in boats. This power source can also be applied elsewhere, completely replacing a stand-alone generator by using ‘spare’ capacity from the existing inboard engine and working in partnership with other power methods where needed, for example solar power. We look forward to offering this solution with optimum efficiency, to both existing and new yacht owners resulting in fuel savings of up to 25%. With Integral you can do two jobs with one engine and less fuel.”

Tim Williams, Investment Manager at The FSE Group, added “Triskel Marine has an innovative product and an experienced management team with good connections in the industry. Trevor’s business has demonstrated that the removal of noisy and costly diesel generators will reduce fuel, maintenance, and shore power costs for vessel owners. We look forward to the next stage of development.”

The £40m Cornwall & Isles of Scilly Investment Fund provides debt and equity finance from £25,000 to £2 million to help growing small businesses across the region. It has been established by the British Business Bank in partnership with the Cornwall and Isles of Scilly Local Enterprise Partnership (LEP).

Sarah Newbould, Senior Investment Manager at the British Business Bank, said: “Cornwall’s marine sector is renowned for its innovation and this CIOSIF loan will help Triskel Marine continue its growth and create jobs. It’s another example of how our regional funds are investing in a more sustainable future.”

John Acornley, LEP non-executive director and chair of the CIOSIF Advisory Board, said: “Triskel Marine’s hybrid propulsion system is an important step towards reduced emissions and greener sailing. I’m delighted to see the fund supporting another innovative Cornish business whose technology has global applications.”

CIOSIF is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020.

For more information about the Cornwall & Isles of Scilly Investment Fund including how to apply, please visit www.ciosif.co.uk  or follow the fund on Twitter at @CIOSIFBBB2

Read more about Triskel Marine at https://integrelsolutions.com/

A Birmingham-based company specialising in large-scale digital advertising has secured a £250,000 loan from the Midlands Engine Investment Fund (MEIF), provided by The FSE Group, Debt Finance Fund and backed by the Recovery Loan Scheme.

The funds will be used to support the design and build of two new digital screens and create six new jobs.

Engage Outdoor Media provides advertising space on large scale digital screens in areas of high road traffic. Handling a number of owned and leased screens throughout the UK, the company finds sites, negotiates long-term leases and obtains planning permission before erecting the screens and selling the advertising space to a range of commercial and public sector clients. 

The MEIF loan will fund the build of two new screens in Birmingham and Leeds, as well as job creation for new finance and sales staff required to support the increase in work volume.

Growth that stalled in the Out of Home (OOH) advertising industry during the pandemic has now picked up again, with the Advertising Association forecasting OOH growth of almost a third this year. The trade body Outsmart announced the highest ever quarterly OOH revenue growth in 2021, with the digital share of this revenue significantly higher than its pre-pandemic share.

Ian Bullingham, founder and MD of Engage, commented: “I started Engage Outdoor Media in late 2018 to create a more dynamic and flexible digital OOH offering and we quickly completed the installation of our first three roadside screens. The pandemic hit our market hard, however, we overcame the challenges and have now built 15 new digital advertising billboards across the Midlands and the North.

“Our FSE investment manager’s thoughtful, caring and thorough approach exceeded my expectations; we will continue to work with her for additional funding later this year.”

Kerry Haughton, Investment Manager for The FSE Group, appointed fund manager for MEIF Debt Finance Fund, added: “Engage Outdoor Media has developed a strong base with regular clients and referrals, and an established relationship with Birmingham’s premium advertising agency. They are increasing their ability to provide the sites required by the growing digital advertising market and through strategic use of owned and leased sites they are spreading risk and increasing revenue. This, together with a strong and dedicated MD, positions the company for future growth and we are excited to be working with them to realise this.”

Mark Wilcockson, Senior Investment Manager , at the British Business Bank, said: “It is fantastic to see the MEIF supporting SMEs in the region’s creative industries. Birmingham-based Engage Outdoor Media will use MEIF funding to expand the reach of its digital marketing services – also boosting the local economy with the creation of six new job roles. We encourage other businesses in the West Midlands to consider the MEIF funding options available.”

Anita Bhalla, Interim Chair at the Greater Birmingham and Solihull Local Enterprise Partnership (GBSLEP) said: During a challenging two years, businesses received targeted assistance and grants from GBSLEP and GBSLEP Growth Hub. Many business owners benefitted from this support as they could maintain their operations and workforce whilst also pivoting to the changing local economy. Now as we adjust to a full reopening, we are committed to helping our businesses grow. That’s why this latest MEIF funding for Engage Outdoor Media is so critical. It will allow them to scale up their operations and create new employment opportunities which supports our GBSLEP vision of driving inclusive economic growth across the region.”

The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

The FSE Group, MEIF Debt Finance Fund provides loans between £100,000 and £1.5million to help growing SMEs across the region.

The Room, the MediaTech marketplace has achieved 200% YoY growth and has expanded its client base welcoming new partnerships with Charlotte Tilbury, Red Bull and Virgin.

The business is a joint venture between Sky Sports host Alex Payne and marketing executive Tanya Hamilton-Smith. Having spent their careers understanding respectively the power of fandom (Alex as the face of English Rugby broadcasting) and brands (Tanya formerly of JWT and BBDO) they have developed a powerful proposition to bring together the worlds of Brands and Influence in a marketplace solution that provides a much needed antidote to the fog of paid posts and sponsored media. 

This new model is designed to drive trust and loyalty by creating an authentic and truly rewarding experience. Brands swap products & experiences in exchange for media created by influential people. This media performs better, is greater in terms of volume of content created and has the all important benefit of being truly authentic. 

Back in 2021, The Room raised investment from the TVB Growth Fund, which is managed by The FSE Group, who were joined by a number of angel investors from across the technology and private equity sectors. Throughout 2021 and into 2022 The Room have been focussing on the development of their global product and expanding their message about the importance of Brand Love across new sectors in the UK and beyond.

Alex Payne, Co-Founder at The Room said, “We are lucky enough to have an enviable and incredibly experienced group of shareholders around us who have all contributed to the success we’re seeing.  Tanya and I are looking forward to the next, Global chapter of growth for The Room and gearing up to a Series A raise later this year.”

Bradley Jones, Equity Portfolio Manager at The FSE Group: “Having known Alex & Tanya over the past few years before making an investment, we have been able to truly understand how the business has developed and professionalised its differentiation. As the world of social media develops, The Room is at the forefront of enabling brands to reach new customers through transparent authentic conversations in place of an influencer being paid to like a product. I am excited to continue to work with The Room team as they continue to scale the business through this next stage of growth.”

The TVB Growth Fund is part of Thames Valley Berkshire Funding Escalator, an £11.3m initiative funded by Thames Valley Berkshire LEP to support job creation and economic prosperity in Berkshire. The escalator, which also includes four separate loan schemes, provides eligible companies – from start-up to established – with loans and equity funding between £50,000 and £300,000 for activities that will deliver high-growth and employment opportunities.

The Enterprise

Codices provides livestream broadcasters with the tools required to engage with their audiences interactively. Founded in 2018 out of Falmouth University Launchpad by Tim Edwards and Fern Pombeiro, the company’s first-to-market interactive software solution, Quiz Kit, is the leading gameshow creation tool on Amazon owned Twitch, the world’s leading video game livestream platform.

With a global video streaming market worth $54bn and growing at 20% per annum, and interactive shows a key driver of this growth, Codices’ ambition has been bigger than Quiz Kit from the beginning. Acting as a front end to deliver its technology to a large market, Quiz Kit has enabled Codices to quickly and cost effectively develop, test and validate new formats and monetisation mechanics, which it is using to inform the development of its own platform, Moar. Moar will be the first platform that allows anyone to create, watch and run live interactive shows through its native app.

The Funding

Codices secured £500,000 of CIOSIF equity investment across two funding rounds in 2020 and 2022. Additional private investment was leveraged totalling £1+million across the funding rounds.

The Impact

Since the initial CIOSIF investment in 2020, Codices’ Twitch user base has grown from circa 500 monthly active broadcasters and 150,000 monthly active viewers to circa 16,000 monthly active broadcasters and 3 million monthly active viewers. The funding has enabled investment in product development and new hires to focus on the progress of Codices’ Moar platform, helping bring this core product closer to launch. Moar is now in beta testing with 18 leading creators who have an audience reach of more than 19m viewers.

“The CIOSIF funding and leveraged private investment has meant we can push ahead with our new product launch as we build upon the knowledge and progress gained over the last few years. Alongside our other investors, The FSE Group has been key in helping us get to where we needed to be in terms of funding and associated support.” Tim Edwards, CEO & Co-founder, Codices

Codices will be publicly announcing Moar and its features on March 29th which anyone can watch at the following link: https://www.eventbrite.com/e/moar-the-interactive-livestreaming-platform-tickets-293156989447

Penzance based independent film production company, Bosena, has received a £40,000 loan from the Cornwall and Isles of Scilly Investment Fund (CIOSIF).

The funding will enable the company to expand and recruit two new members of staff, while supporting the company’s sustainability-focused, ethical and environmentally positive principles and ways of working.

Bosena is focused on supporting and promoting Cornish and other under-represented talent within the media sector, while delivering each project in an ‘ecological harmony’ manner. The company does this by creating jobs across the creative industries, building upon their commitment to making creatively and critically successful films which also follow the Bosena ‘stepping lightly’ regenerative principles of production.

They are currently working on projects across film, TV, and animation including niche Cornish language productions and these projects will be delivered across media channels including theatrical distribution, broadcasting, digital streaming and mobile.

The company’s latest feature is Enys Men, by BAFTA winning writer-director Mark Jenkin and produced by Bosena CEO Denzil Monk. The ‘ecosophical horror’ is set in the Cornish landscape and is the follow up to BAIT (2019), the highly acclaimed, award-winning drama which focuses on the issues surrounding the gentrification of a small Cornish fishing village.

Denzil Monk, CEO of Bosena, commented: “We are committed to showcasing the wealth of production talent that Cornwall has to offer by producing critically celebrated and commercially successful features. Acting local, whilst thinking global is vitally important to us as we’re proud of our roots, which is why we are always keen to make work which uses and celebrates our Cornish language and culture, and why finding and continually employing Cornish talent is a cornerstone of our ecosophical objectives.

“Wherever our productions are based, Bosena is committed to working with sustainable suppliers, local crews and talent, and to evolving our production process to achieve positive effects and outputs wherever possible. This way of working is more relevant, and more important than ever, so we are delighted to be partnering with Cornwall and Isles of Scilly Investment Fund (CIOSIF) to enable our growth whilst remaining steadfast in our commitment to Cornwall, and our surrounding environment.”

Rachel Thomson, CIOSIF Business Manager, added: “We are thrilled to be supporting a company that is so committed to its local heritage, using both the Cornish landscape and the people who live there. Many art house film fans were disappointed by the delay in release date for Enys Men which was postponed due to the pandemic, but we are delighted that production has now been able to resume. Bosena has some exciting projects in the pipeline, and we are pleased to be supporting them as they take their ideas and creativity forward with such a fitting, and admirable, sustainability philosophy.”

The £40m Cornwall & Isles of Scilly Investment Fund provides debt and equity finance from £25,000 to £2 million to help growing small businesses across the region. It has been established by the British Business Bank in partnership with the Cornwall and Isles of Scilly Local Enterprise Partnership (LEP).

Lloyd Brina, Senior Manager at the British Business Bank, said: “Cornwall’s screen sector is booming in the digital era and wants to be known for world-leading sustainable practice. It’s good to see a business like Bosena helping to lead that vision, producing award-winning film in an ethical and environmentally positive way.”

John Acornley, LEP non-executive director and chair of the CIOSIF Advisory Board, said: “Bosena is committed to showcasing Cornish language, culture and talent and is the latest business to be backed by the fund that puts sustainability at the heart of everything it does.”

CIOSIF is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020.

For more information about the Cornwall & Isles of Scilly Investment Fund including how to apply, please visit www.ciosif.co.uk  or follow the fund on Twitter at @CIOSIFBBB2

Find out more about Bosena here: https://www.bosena.co.uk/