VASO secures funding to 'accelerate' growth

A Dumfries construction technology business has secured more than £5 million in funding to accelerate the manufacture of low-carbon homes built from recycled glass and support job creation.

VASO Global has raised investment from PXN Ventures, Scottish Enterprise, UK Research and Innovation (UKRI) and Eco Group to expand its innovative modular housing technology, which aims to help address the UK's housing shortage.

The company transforms waste glass into high-performance structural composite panels, combining digital design, advanced manufacturing and semi-autonomous construction to deliver affordable, thermally efficient homes more quickly than traditional building methods.

Alongside tackling housing supply challenges, VASO Global’s technology supports the circular economy by converting waste materials into high-value construction products.

An artist’s impression of a VASO Global community

The funding package includes a £1.4 million seed investment from PXN Ventures, £621,000 from Scottish Enterprise, a £2 million loan from Innovate UK Loans Limited, part of UKRI, and £800,000 from Eco Group.

It follows an earlier £330,000 award from South of Scotland Enterprise.

Bosses say the investment will support manufacturing at VASO Global’s new 60,000sq ft facility in Dumfries, where the company expects to create up to 70 jobs over the next five years while scaling its industrialised construction processes.

They add it will also help the business develop new routes to market and prepare for future investment as demand grows for sustainable housing solutions.

Eddie Black, VASO Global co-founder and managing director, said: “We want to thank all those who have seen the potential in our technology. 

“The latest investment from PXN Ventures and Scottish Enterprise, along with all our other funders, accelerates our journey to deliver a product which can genuinely reshape how homes are delivered - cleaner, faster and with far less waste.

“We would like to also thank Professor Sean Smith at the University of Edinburgh for his reports and expert support, funded by the UKRI Centre for Net Zero High Density Buildings, which has helped underpin VASO’s plans and products to reach this stage of our development.”

Tom Croy, investment director at PXN Ventures, added: “At PXN we back companies solving real problems, and the UK’s housing shortage is about as real as they get, which is why we're proud to back Eddie and the team as they scale a genuinely sustainable way to build not just houses but other essential buildings. 

“On top of supporting local jobs and opportunities, VASO Global’s recycled composite panels enable builders to build far faster than traditional methods, with the company expecting to cut construction time from 33 weeks to ten on an upcoming project in Scotland.”

Derek Shaw, director of entrepreneurship and investment at Scottish Enterprise, added: “Our investment support is focused on helping Scotland’s most innovative and ambitious companies to grow and scale, creating impactful economic change in regions across Scotland. 

“VASO Global is a fantastic example of this, with its manufacturing approach having the potential to transform how low-carbon homes are delivered at pace and scale, while creating job opportunities and strengthening the South of Scotland’s manufacturing capability.”

The funding announcement follows two senior appointments, with Graham McDonald joining as chairman and Douglas Morrison, deputy chief executive of BE-ST, becoming a strategic adviser as the business looks to accelerate its growth plans.

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