AAB Assists in Securing Successful EIS Funding Round for Air Control Entech

November 2018 – Aberdeen – Anderson Anderson & Brown LLP (AAB), one of the UK’s leading firms of Chartered Accountants & Business Advisors, has secured Aberdeen-based Unmanned Aerial Vehicle (“UAV”) inspection and technology company Air Control Entech (“ACE”) a significant investment to support the future growth of the company.

ACE, founded by Managing Director Kieran Hope in 2016, was established to revolutionise the way inspection work is carried out.  Through his experience of the offshore inspection market, Kieran identified that off the shelf drones were not fit for purpose in the often harsh offshore environment where safety is critical. Kieran founded ACE to engineer and commercialise a range of drones equipped and tested for high performance and safety in the tough conditions of the North Sea.

ACE has developed their state of the art UAV fleet with support from the Oil and Gas Technology Centre (“OGTC”), which has provided significant R&D funding over the last two years and introduced ACE to some key operators and inspection companies.  ACE has now successfully designed, manufactured, tested and commercialised three UAV models with varying capabilities to meet customer requirements, with further models currently in development.

Brian McMurray, Head of Equity Finance commented, “We are delighted to have secured the investment needed to accelerate the growth of ACE. Having worked closely with Kieran and his team during this process, we look forward to continuing the relationship and supporting ACE in becoming a leading Scottish technology business, servicing clients worldwide.”

Brian McMurray and Michael Edwards of AAB’s Corporate Finance team worked with Kieran and the team at ACE to deliver fundraising advice, introduce potential investors and ultimately secure the desired investment. The investment will be used to increase the company’s fleet of UAVs to meet customer demand as well as enhancing manufacturing capabilities at the newly refurbished premises located in Bridge of Don.

 

Kieran added “AAB’s advice and assistance for our first EIS round was critical in securing the relationships and the investment we needed. This investment will enable ACE to continue to scale quickly, and we’re looking forward to continuing our relationship with AAB.”

About Air Control Entech

Air Control Entech (ACE) is the leading developer of UAV inspection technologies in the North Sea. Serving the offshore industry with purpose-engineered inspection UAV’s, ACE is driving standards of R&D in the industry. Research funding from the OGTC and partnerships in industry are enabling ACE to develop stronger technologies and serve a wider base of clients, with the goal of making UAV inspection smarter, faster and safer.