Building survey specialist attracts investment of £400,000

Dundee-based IRT Surveys - specialists in infra-red surveying to measure building energy efficiency - has attracted second round funding of circa £400,000 from Sigma Capital Group and TRI Cap business angel syndicate, including match funding from Scottish Enterprise’s Co-Investment Fund.
The investment will allow the business to exploit its IRT Energy Software, which it predicts will make a major impact on the multi-million pound energy assessment market. First established in 2002, IRT has developed proprietary software to assess carbon emissions and resultant financial loss, reducing survey costs and increasing accessibility across the property sector. The sector is under legislative pressure to increase energy efficiency and reduce its carbon footprint.

“The drive for energy efficiency and improvements in environmental performance has provided IRT with a strong platform from which to drive forward its business,” says Robert Dick, chairman of TRI Cap. “As investors, TRI Cap members recognise the substantial potential in this sector and are enthusiastic about participating in this funding round.”

MD of IRT, Stewart Little, is confident the business is set to achieve major growth:
“Our software and analytical package reduces the time and cost involved in the process of assessing the energy profile of a building and is available to the wide range of professionals who are providing this service to the sector. The introduction of Energy Performance Certificates earlier this year, combined with demanding environmental targets, means there is a huge demand for tools which are cost effective and efficient.

“We are delighted to have Sigma, TRI Cap and the Co-Investment Fund on board as investors and have set our sights on Europe-wide expansion over the coming three years.”
The company has already made national waves in recent months when it was commissioned by the Sunday Times to survey the homes of political and showbiz figures - including Boris Johnstone, Mayor of London – to measure how environmentally friendly the properties are.
See www.irtsurveys.co.uk and www.irtenergy.co.uk

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8 APRIL 2009

Issued on behalf of TRI Cap by Prior PR.
For further information contact Eileen Prior on 01721 729322 or 07802 180 412, or email eileen.prior@priorpr.co.uk


 

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