Funding to accelerate K-Briq production and deliveries as firm expands its commercial project pipeline
SCOTTISH sustainable construction firm Kenoteq has secured almost £900,000 in new investment as part of an ongoing funding round.
The latest investment has been led by Kelvin Capital, with the Scottish Enterprise Co-Investment Fund and several existing investors increasing their backing for the business, reflecting continued confidence in Kenoteq’s commercial progress and long-term growth prospects.
The funding round remains open as the company continues discussions with prospective investors, targeting a total raise of £2 million.
The first tranche of funding will support the next phase of Kenoteq’s commercial growth by increasing production capacity for its flagship K-Briq and accelerating deliveries across a growing pipeline of healthcare, hospitality and commercial projects.
Among the schemes currently under way is a major NHS development in Wales, where K-Briq has been selected for one of the health service’s most sustainable hospital projects. The company is also supplying major theatre and restaurant projects in London, with further details to be announced.
The investment reflects continued confidence from both new and existing investors as Kenoteq move from product development towards wider commercial deployment.
Made from almost 100% recycled construction and demolition waste, K-Briq offers the construction industry a lower-carbon alternative to conventional masonry products and supports the move 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 K-Briq specified for 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 [Holt] and the team as they scale up and deliver their pipeline.’
Andrew Holt, chief executive officer of Kenoteq, commented: ‘This investment marks another significant milestone for Kenoteq and reflects the confidence our investors have in our technology and 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…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.’
