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Delivering financial due diligence to Scottish Enterprise’s Co-Innovate programme

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Overview

CJM Lumina were appointed by Scottish Enterprise to deliver a quick and clear assessment of the commercial potential of Cuantec – a potentially game-changing technology for the world’s food production industries.

Brief

During the early stages of the now well-established enterprise, Cuantec, CJM Lumina were tasked by Scottish Enterprise to deliver a detailed Independent Review of the business, including financial due diligence. The aim was to clearly communicate the needs of the business to numerous stakeholders, to better deliver support and accelerate success.

Delivery

We quickly gained an understanding of the business, its potential, and its needs to succeed. The technology was entering its next stage of development, to use crustacean shells (an abundant material in Scotland) to create a biodegradable alternative to plastic packaging used in the food industry.

Understanding that the business was research intensive and therefore had a range of complex needs prior to being ready to enter the market – we had to communicate large amounts of complex information to various stakeholders, including national and cross border economic agencies.

Results

After seven years of research and product development, in 2024 Cuantec began the development of its first biodegradable packaging from its brand-new plant in Glenrothes. It’s an excellent example of the work that economic development agencies undertake to support and enable high-growth businesses with breakthrough technologies to prosper in this country.

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