The ONE Enterprise Fund has helped businesses working at the forefront of developing practical solutions to deliver energy transition.
Stonehaven-based Trojan Energy is pioneering an innovative electric vehicle on-street charging system with a significant pilot project in London. It was one of the first companies backed by the Fund and has since repaid its loan in full.
Trojan used its loan as working capital to bridge a short-term gap funding challenge. It allowed the business to move forward with development plans, secure a large Innovate UK grant and complete a significant funding round.
In September 2022, the company secured £9 million of backing from the Scottish National Investment Bank to fund its growth plans. Earlier in the year, Trojan secured investment from Ebico Ltd, Shancastle Investments, Scottish Enterprise, Equity Gap and Alba Equity members, and SIS Ventures.
Brand new on-street electric vehicle charge points are now live for testing in the London boroughs of Brent and Camden. Designed by Trojan Energy, the 150 charge points sit flat and flush with the pavement, so they have no permanent raised structure.
Ian Mackenzie, CEO of Trojan Energy, said: "The well-timed support from the ONE Enterprise Fund was transformative. ONE was one of the first organisations, alongside Scottish Enterprise, to support us with funding in the very earliest days of the Trojan journey. I want to thank ONE for its faith in us and support of start-ups in the early days of their journey.
"Looking back, the ONE loan was crucial for us and made a big difference in getting where we are today.
"We now employ around 20 people in the north east, which will grow quickly in the future. So the work ONE does, and the generosity of the funders of the ONE Enterprise Fund, has already made a big impact on jobs here and in supporting our mission to accelerate the energy transition," said Ian.
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