An emerging player in the venture-capital market, Edinburgh-based Par Equity, has teamed up with Aberdeen-headquartered Senergy Alternative Energy.
They aim to identify and pursue investment opportunities in companies operating in the alternative-energy and clean-technology sectors.
They will examine the potential for investment in asset developments and growth companies, with an initial focus on offshore and onshore wind, coal-bed methane and coal-mine methane, power management and geothermal energy.
They will also look at investing in enabling and support technologies.
The two organisations aim to make investments of around £500,000 in up to six companies in the next 12 months.
The new venture will allow Senergy to grow its alternative-energy business, exploiting its resources in this area and accessing its strong asset development background, while Par Equity will broaden the range of investment opportunities it considers.
Funding for deals will initially come from the Par Syndicate, a “business angel” investment arm of Par Equity, which says that, depending on early progress made with identifying investment opportunities, an eventual target fund size of £100million could be considered.
In the meantime, the Par Syndicate has secured partner status with the Scottish Co-investment Fund, which will enable it to leverage additional public money to support Scottish companies with high-growth potential.
Nial McCollam, managing director of Senergy Alternative Energy, said: “This is an exciting opportunity to capitalise on the investment opportunities to which we often have favourable access.
He added that, alongside Par’s investment capability, Senergy would be able to help alternative-energy companies and project developers achieve their objectives.