Waveblade Raises £550K

Waveblade, a global marine business established to develop a new product pipeline aimed at the commercial sector, has raised £550k in funding.

Backers include Glasgow-based business syndicate Kelvin Capital, which was co-founded by John McNicol and Jim Hall in 2009, and the Scottish Investment Bank, a division of Scottish Enterprise.

The company intends to use the capital to expand globally, with new applications in oil, gas and mining also being explored.

Invented by Ayrshire-based boat entrepreneur Hugh Fisher and led by newly appointed CEO Steve Smith, Waveblade develops a submersible handheld power tool that removes fouling from boat and submerged surfaces.  It uses new, patented technology that allows users to strip marine foul from boat hulls, buoys and all other installations above or below the water line.



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