Heliex Power of East Kilbride, which has developed technology to harness the power of low-temperature “wet steam”, has received a £4.2 million funding injection that will be used to increase its exports and double its turnover next year.

The company says that it has “solved an energy problem that has stumped academic and engineering minds for centuries by coming up with an efficient way to generate electricity using the type of steam that can be seen when a kettle boils”.

Founder Dan Wright said: “This is the ‘Holy Grail’ of energy recovery for manufacturers, and it’s hugely environment-friendly. With the Flying Scotsman re-launching earlier this year, this is a second Golden Age for Scottish steam.”

The company said that fresh funding from shareholders BP Ventures and Greencoat Capital — along with its first financial support from Scottish Enterprise’s investment arm, the Scottish Investment Bank — will aid the global roll-out of its technology. Heliex said it aims to increase its turnover from more than £3 million this year to £6.5 million next year.