Gas Sensing Solutions
High Tech investment for TRI Cap angel syndicate
Business angel syndicate Tweed Renaissance Investors Capital Ltd (TRI Cap) has concluded a £625,000 deal with high technology business Gas Sensing Solutions Ltd (GSS), its second deal in so many months. TRI Cap members John Burgon and Professor Des Gibson join the board of GSS as Finance Director and Non-Executive Chairman respectively.
Robert Dick, Chairman of TRI Cap, is pleased by the growing momentum of the syndicate’s investment activity: “GSS is an excellent prospect with exciting plans, which our members are delighted to support. Together with our recent investment in Intrallect, we have been involved in injecting more than £1m into the market in little more than a month, with the help of the Co-Investment Fund. We have further exciting proposals at various stages of consideration at the moment and fully expect to conclude further deals shortly.”
GSS’s new Finance Director, John Burgon, believes the deal to be an excellent one for TRI Cap’s members and for GSS: “This is effectively a start-up scenario for a global business, which is very exciting for our syndicate. As part of the deal, I and my colleague Des Gibson will bring our extensive experience to bear, working closely with GSS to help steer the business through a steep curve, moving the company through prototype and then into full production. At the moment GSS is based in Cumbernauld but we would be delighted if the Scottish Borders were to benefit from the company’s future growth.”
A spokesperson for Gas Sensing Solutions said: “These are very exciting times for GSS. We welcome both the financial support and the wealth of business experience TRI Cap brings, both of which will be invaluable as we move through the product testing and marketing phases. Although currently highly confidential, we believe our product range will quickly become leaders in their field.”
GSS was advised by corporate finance specialist Dundee-based DC Consulting, which ensured the company was investor ready and identified TRI Cap as a best fit investor.
TRI Cap, which is based in the Scottish Borders, was founded in 2005 with the intention of investing in growth businesses in the Borders and beyond. Its founders include some of the Borders’ leading business people who, between them, have many years’ experience of building and investing in enterprises in the Borders and further afield. The syndicate has invested in a number of companies in its first year: Lab901 (May 2005), EctoPharma (November 2005) and Outerlight (December 2005) as well as Intrallect and GSS in 2006.
END
15 JUNE 2006