A Scottish technology development business is looking to grow its presence in the north-east to target the North Sea after getting £3.25million investment.
Lux Assure, based in Edinburgh with an office at Westhill, has been given the investment from a consortium of ConocoPhillips, Statoil Technology Invest, Archangel Informal Investment (Archangels) and the Scottish Investment Bank (SIB), a division of Scottish Enterprise.
The cash is aimed at helping the firm grow from a technology business to a service provider with its products, including CoMic and OMMICA, which are aimed at corrosion management using specialist chemicals and the monitoring of hydrates respectively.
Laurence Ormerod, chairman of Lux, said: “This major investment will allow Lux to capitalise on the excellent chemical monitoring products developed by the company. This seems to be an appropriate time to dedicate the company to growing sales, both within the UK and overseas.” Lux has six staff, with one of those at Westhill. Numbers at Westhill are expected to grow to four by the middle of this year.
The firm was set up in 2001 and is the oil and gas division of Lux Innovate, set up in the same year.
It has focused on developing chemical monitoring technologies for the oil and gas industry since 2009.