Leading developer of battery technology acquired by KCK
Dukosi, the Edinburgh-based developer of leading-edge battery technology, has today announced it has been 100% acquired by KCK .
Dukosi is a developer of cutting-edge technologies that transform the way advanced batteries are designed, deployed and operated in applications such as Electric Vehicles, Transport, Grid Energy Storage and Industrial. The Company will continue to build its activities at its base in Edinburgh and subsequently through global expansion.
“The team and I are delighted to announce this exciting development for the Company, as we move to bring our ground-breaking technologies to market. KCK shares our vision and ambitious plans for the business, and I very much look forward to working with them to ensure Dukosi technology is at the forefront of the next generation of batteries,” said Dukosi Chief Executive Nat Edington.
KCK, an investment group, invests across a broad range of sectors. KCK partners with experienced management teams and takes a long-term view to build companies with differentiated solutions that solve real pain points.
“Dukosi represents a key module for next generation battery systems. We are looking forward to working with the team to accelerate the development and commercialization plans to meet the massive market needs,” said Dr. Nety Krishna, KCK’s Head of Industrials and Emerging Technologies Group.
Dukosi has been supported to date by IP Group plc, the Scottish Investment Bank (the investment arm of Scottish Enterprise) and investors from the Par Equity syndicate, growing the company each year and enabling core innovative ideas to be developed to advanced product status.
“IP Group first invested in Dukosi in 2014, seeing the potential for Dukosi’s disruptive technology in the rapidly growing battery market. We have worked closely with the business ever since and through multiple investment rounds, built a substantial stake. This sale marks the start of the next phase for the business and represents a great result for all stakeholders,” said Jamie Vollbracht, Partner, Cleantech, IP Group Plc.
Kerry Sharp, Director, the Scottish Investment Bank, said: “We have supported Dukosi for more than seven years, including SIB investment and Scottish Enterprise grant funding. We’re excited to see it enter the next phase in its growth journey as part of KCK and look forward to continuing our already-strong strategic relationship.”