Econavis Solutions, a maritime technology company based in Glasgow, has secured a £300,000 investment through the British Innovate UK Icure Exploit program to drive its business growth. This funding will aid the commercialization of university research from the University of Strathclyde and comes after the successful completion of extensive product tests for its ECO Boss Cap Propeller Hub, aimed at enhancing hydrodynamic efficiency in the maritime industry.
Founder and CEO Dr. Batuhan Aktas highlighted the uniqueness of this financing method, which covers scaling costs such as salaries and business development, underscoring the commercial potential of their technology. Since beginning to draw funds in February, the company has received £55,000, with the remainder to be released in phases to support recruitment and accelerate commercial operations.
Econavis is also participating in the Smart Things Accelerator Center’s 18-month program, which provides structured support for scaling technology firms. The company has expanded its core team and is pursuing additional grant applications, including £100,000 from Scottish Enterprise and $500,000 from the National Fish and Wildlife Foundation to enhance its offshore initiatives.
With growing demand for clean technology amid increasing regulatory pressures, Econavis is strategically positioned to capitalize on the maritime sector’s transition towards energy-efficient solutions.
Share it now
