Innovatium Secures £3 Million Investment from Scottish National Investment Bank and Hitachi to Scale Liquid Air Energy Storage Technology

Innovatium, a Scottish clean-technology company developing liquid air energy storage systems, has secured a £3 million investment from the Scottish National Investment Bank and Hitachi Industrial Equipment Systems (HIES) to accelerate commercial deployment of its PRISMA™ Advanced Liquid Air Energy Storage (LAES) technology.

Based in East Kilbride, Innovatium is working to offer a long-duration, flexible storage solution intended for energy-intensive industries and grid-scale applications. The company’s PRISMA system uses off-peak electricity to cool and liquefy compressed air; when energy is needed, that liquid air is re-vaporized and expanded to generate power, providing a decarbonized alternative to lithium-ion batteries.

With the new funding, Innovatium plans to expand its team, scale up manufacturing, and fast-track commercial rollout, especially targeting sectors like data centres, where both energy demand volatility and carbon reduction requirements are high. HIES is expected not only to co-invest but also to supply core compressor components for PRISMA and to promote Innovatium’s technology through its global sales networks, including Hitachi Global Air Power and HIES Europe.

Innovatium CEO Brian Jack described the investment as a tipping point, saying it gives the company a platform to “scale up significantly” and broaden its solutions globally. The partnership with HIES opens access to international markets that might otherwise have been difficult to reach.

For the Scottish National Investment Bank, the deal underscores its mission to support clean tech and to help home-grown innovations drive economic growth and decarbonization. The Bank anticipates the investment will support the creation of around 30 jobs over the next four years in Scotland as the company scales its operations.

Innovatium already holds multiple awards and recognitions: its PRISMA system has been awarded for innovation in clean energy, and the company has previously confirmed additional investments intended to “supercharge” deployment of the technology.

By combining capital from a development bank with strategic backing from an industrial giant, Innovatium is positioning itself at the nexus of clean energy innovation and commercial scalability. Its success could influence how industry approaches long-duration energy storage beyond electrochemical batteries.