We are pleased to announce that the Scottish National Investment Bank (“the Bank”) has committed to a £20 million investment in XLCC. The investment will support the development of our factory at the brownfield site of the former Hunterston Terminal in Ayrshire. Once complete, the facility will create highly skilled jobs in advanced manufacturing and project management for decades to come and will be the world’s largest annual producer of HVDC cable.

Ian Douglas, XLCC’s CEO, said:

We welcome the investment from the Scottish National Investment Bank as we deliver on our mission to provide the critical infrastructure for the energy transition. Without HVDC subsea cables, decarbonisation will not happen in the UK, or anywhere else, at the pace necessary. Given its criticality to net zero and security of supply, securing sufficient HVDC is a matter of national importance. The Hunterston facility will help us meet this demand and bring highly skilled jobs to Ayrshire.”

Read the full press release here.