Red Spider Technology Receives Debt from Scottish Loan Fund
Red Spider Technology, an Aberdeen, UK-based company that manufactures and supplies a range of remotely operated well-intervention and completion tools to the international oil & gas industry, is receiving working capital from the Scottish Loan Fund.
The amount of the financing was not disclosed.
Led by CEO Steve Nicol, the company specializes in remote open close technology for well completions and well intervention applications operating internationally from bases in Aberdeen and Stavanger with ongoing expansion in Asia Pacific, Middle East, West Africa and North and South America.
Managed by Maven Capital Partners, the Scottish Loan Fund offers finance of between £250k and £5m to Scottish growth or export businesses.