Nova Innovation Ltd

Nova Innovation Ltd, based in Edinburgh, UK, is a small, active company founded fifteen years ago in 2009. With 36 employees and £6,268,988 in assets, it's a modest-sized operation led by seven directors and two owners. The company operates from a real address and regularly imports machinery, boilers, and mechanical appliances—parts, with a focus on import activity over the last eight months. It also exports electrical machinery and equipment, with five months of export activity.

Nova Innovation’s core business revolves around marine energy solutions, specifically floating solar and tidal energy. Its website highlights a commitment to sustainability and delivering clean, predictable electricity. The company’s expertise extends to energy storage and smart grids, showcasing a strong track record in marine renewables. It even owns several companies including Seastar Tidal Ltd and Oceanstar Tidal Ltd, indicating a broader portfolio within the marine energy sector.

Financially, Nova Innovation Ltd presents a mixed picture. While net assets increased by 14% to £22 million, cash reserves grew by a more substantial 14% to £3.3 million. However, bank borrowings remained constant at £2.5 million. Creditors decreased by 9.4%, suggesting improved debt management. Despite a significant increase in intangible assets (17% to £17 million), the company’s average number of employees increased by 8.3% to 39, indicating a growing workforce. The company’s small size (meeting two of three criteria for turnover under £10.2m, assets under £5.1m, and fewer than 50 employees) allows for agility, but the increase in intangible assets suggests ongoing investment in research and development. The accounts are unaudited, and the company's auditor is MHA.

Overall, Nova Innovation Ltd appears to be financially stable, with growing assets and cash reserves. The company’s focus on sustainable marine energy positions it well for the future, but ongoing investment and a growing workforce will be key to its continued success.

Registered in Scotland under the registration number SC358996, with a registered address at EH6 6QH, Scotland, Edinburgh, 45 Timber Bush.

WARNING:The numbers have been rounded for simplicity and may be inaccurate.Please, refer to the latest financial report for verification.