£1m growth package

A Scottish energy management company has secured nearly £1m to help drive its expansion into new commercial markets.

Edinburgh business Ewgeco creates display systems that monitor any energy source in homes and businesses. Now its growth plans have been boosted by a financial package from Archangel Informal Investments and Scottish Enterprise.
The company said it is on track for 300% growth in the second half of the year. Chief executive George McGhee, added: “This latest commitment to our business will significantly impact on our over-all growth plans for the company. This cash investment will also contribute to our research and development practice from which we continue to look at new, innovative ways to help customers in their energy management.”
Ewgeco’s range of monitoring systems were originally designed to cut energy costs and consumption in homes.