Scots submersible power tool firm Waveblade has raised £610,000 in its latest round of expansion funding.
Part of the new funding has been ringfenced to help finance a trial project with one of the major oil and gas companies to test Waveblade products on subsea pipes.
The company has now raised more than £1million investment from the Scottish Investment Bank, a division of Scottish Enterprise, and Kelvin Capital since September 2012.
“In the past year we have seen remarkable interest and there is incredible global potential for our unique products in a whole range of commercial sectors,” said Steve Smith, CEO of Waveblade.
The company produces a submersible handheld power tool to vibrate growth from boats and other submerged surfaces.
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