Funding Round attributes
Pharos Marine Automatic Power, a UK-based company specializing in solar-powered navigational aids, has secured a £7.5 million funding package to support its global expansion and product development. The investment was provided by Frontier Development Capital, part of Mercia Asset Management, and will enable the company to enhance its product offerings and extend its reach in international markets.Pharos Marine Automatic Power manufactures a range of solar-powered products, including beacons, fog signals, aviation lights, and other navigational aids, which are used to mark offshore assets such as drilling rigs and wind farms. These products are designed to support the decarbonization of operating assets while ensuring the safety of vessels.The company operates globally, with a workforce of 67 employees across its Great Yarmouth plant and London office, as well as an assembly line in Louisiana and operations in Singapore and the UAE. The secured funding will facilitate the development of new products and the expansion of the company's international presence.This investment underscores the growing importance of sustainable technologies in the maritime industry and highlights Pharos Marine Automatic Power's commitment to providing innovative solutions for navigational safety and environmental responsibility.
