6 February 2024
Synaptec Ltd, a leading innovator in monitoring and protection solutions for power network operators, has raised over £6.5M in funding to support its rapid expansion, including development of new manufacturing facilities in Scotland.
Established in 2014, Synaptec was the original developer of the Distributed Electrical Sensing (DES) fibre-optic instrumentation platform that enables voltage and current to be measured cost-effectively throughout power networks. Synaptec’s technology now underpins a range of monitoring and protection products deployed across the power grids, renewables, and industrial sectors.
Renowned test and measurement experts Megger Group were a significant investor in the round, with existing shareholders Proserv, and Equity Gap also participating. Synaptec also enjoys the ongoing support of existing investors the University of Strathclyde, Scottish Enterprise and Foresight who remain key shareholders.
In the last three years, Synaptec’s DES technology has been adopted by major international customers in the offshore wind and onshore power grids sectors. The technology provides customers with unprecedented flexibility in where they can place high-fidelity protection and monitoring instruments, and has now been delivered to a wide range of sites around the globe. This includes the world’s largest offshore wind farm and the world’s first floating offshore wind farm, via the ECG™ holistic cable monitoring system developed alongside Proserv as part of a technology consortium. It has also been supplied to national power networks across the UK, Europe, India, and the GCC territories.
Synaptec’s Chief Executive Officer and co-founder, Dr Philip Orr commented:
“Synaptec is experiencing rapid growth in demand for our instrumentation products across both electrical utility and renewable generation sectors. This reflects a global trend towards live, high-quality data supporting excellent asset management decisions and network resilience. We are proud to be developing our business and manufacturing capabilities in Scotland and exporting great technologies that support the global energy transition.”
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