Turquoise, the UK merchant bank specialising in energy, environment and efficiency, has announced an investment by Low Carbon Innovation Fund 2 (LCIF2) in Archipelago Technology Group. This forms part of a capital raising round of nearly £1.5 million comprising both equity and an Innovate UK grant provided under the Future Economy Programme. Co-investors in the equity round included members of the management team, Cambridgeshire and Peterborough Business Growth Company and several angel investors.