KENOTEQ has secured almost £900,000 in new investment as part of an ongoing funding round.
The investment has been led by Kelvin Capital alongside Scottish Enterprise Co-Investment Fund and several existing investors, who have chosen to increase their backing of the sustainable construction technology business.
Kenoteq is targeting a total raise of £2 million, with it continuing discussions with prospective investors. The first tranche of funding will support the next phase of the company’s commercial growth, increasing production capacity of its flagship product, the K-Briq, and accelerating delivery across a growing pipeline of projects in the healthcare, hospitality and commercial sectors.
Among the schemes currently progressing is a major NHS development in Wales, where K-Briq has been selected as part of one of the health service’s most sustainable hospital projects. The company is also supplying landmark theatre and restaurant projects in London.
The K-Briq is manufactured using almost 100% recycled construction and demolition waste, providing the construction industry with an alternative to conventional masonry products while supporting the transition towards a more circular built environment.
John McNicol, director at Kelvin Capital, said, “Kenoteq is exactly the kind of business Kelvin Capital likes to back: proven technology, a clear commercial strategy, and a team turning innovation into real-world impact. It’s exciting to see the K-Briq specified on major healthcare and hospitality projects and we’re delighted to lead this investment alongside the Scottish Enterprise Co-Investment Fund and Kenoteq’s existing backers. We look forward to supporting Andrew and the team as they scale up and deliver on their pipeline.”
Andrew Holt, chief executive officer of Kenoteq, added, “This investment is another significant milestone for Kenoteq and reflects the confidence our investors have in both our technology and our commercial strategy. We have built strong momentum over the past year and are now seeing that translate into an increasingly exciting pipeline of commercial projects across multiple sectors. Securing work on major healthcare, hospitality and commercial developments demonstrates the confidence that clients are placing in our products and our team.
“This investment enables us to build on that momentum by increasing production, supporting further commercial growth and continuing to develop innovative products that help the construction industry embrace more circular building practices. The investment round remains open and we continue to welcome conversations with investors who share our ambition for the future of the business.”
