A Scottish maker of heating batteries has appointed a former JP Morgan investment banker as its chairman and closed a near £5 million funding round. Sunamp has hired the US-based Hank Torbert to head its board as part of plans for international expansion. The company believes its thermal storage technology is an alternative to hot water cylinders in domestic homes. The batteries can store energy which can then be released to provide hot water, central heating or cooling. Thousands of the products have been installed in homes across Scotland, particularly in housing association accommodation, with Sunamp indicating its order book is growing strongly. Torbert, 49, is president of Alta Max, a provider of services for the defence industry, and chief executive of the Frontier Conference, which looks at innovative technology. He started his career at JP Morgan.
Times 1st June 2021 read more »