Aggreko invests £33 million in R&D

First Minister Nicola Sturgeon (centre) visiting Aggreko in Dumbarton, Scotland.

UK-based power, heating and cooling equipment manufacturer Aggreko is investing £33 million (US$46.38 million) in research and development.

The funds will be used to explore opportunities in solar/diesel energy storage hybrids, waste heat applications and refining its fossil fuel products.

The Scottish Government provided a £1.5 million grant as part of the investment that will create 23 new jobs.

“Our aspiration is for Scotland to once again be the inventor and manufacturer of the innovations that shape the future,” said First Minister Nicola Sturgeon. “That is why our Programme for Government saw business R&D grants boosted by 70%. I am delighted this funding is having an impact on firms like Aggreko, setting the pace for ambitious, innovative businesses all over the country.

“As our new Energy Strategy sets out, it is crucial that we find new ways to ensure energy is produced efficiently and integrates renewable and low carbon technology – as is the case with these developments by Aggreko,” she added.

In July 2017 Aggreko demonstrated its commitment to energy storage with the US$50 million buyout of Younicos.

“Power generation and energy markets are going through a fundamental change and businesses, organisations and governments across the globe are having to respond rapidly to this changing energy landscape,” said Chris Weston, CEO, Aggreko.

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