Salford Valve Company Ltd (Salvalco) founders of innovative aerosol technology Eco-Valve is delighted to welcome a third round of investment of £0.5million from the Foresight and Williams Technology EIS Fund to support the development of their aerosol valves that use ecologically sustainable propellants.
The final funding instalment comes in addition to the £2.7m awarded back in Aug 2018 and 2019 and follows investment from Beiersdorf, a leading provider of innovative, high quality skincare products, including brands such as NIVEA, Eucerin and La Prairie.
The Foresight Williams Technology EIS Fund is an Enterprise Investment Scheme (EIS), financing early-stage, unquoted companies developing disruptive technology and pioneering innovation. And with the first product references of Eco-Valve due in the market by the end of the year, it marks an exciting time for the business.
Founded in 2013, Salvalco develops innovative valve systems, called Eco-Valve, based on prior research by the Spray Research Group at Salford University. The Eco-Valve technology allows eco-friendly inert gases such as nitrogen or simple fresh air to be used as propellants in aerosol sprays, thus enabling a more sustainable and safer alternative to conventional aerosol propellants.
Salvalco has subsequently developed a family of valves using this technology to pressurise the can without compromising user experience.
Commenting on the investment, John Holden, Director at Foresight, said:
“Salvalco has demonstrated real progress in developing a truly eco-friendly and revolutionary approach to the problem of the polluting gases in traditional propellants.”
Matthew Burke, Head of Technology Ventures, Williams Advanced Engineering, added:
“Salvalco’s Eco-Valve technology has the potential to revolutionise the aerosol industry, as indicated by Beiersdorf’s recent investment in the business. We are excited to continue our support for Salvalco both with this follow-on investment and engagement with Williams Advanced Engineering.”
The funding will be used for further research, product development, commercialisation of the technology and to help develop future valve concepts. It will also support Salvalco’s growth plans and organisational structure as the business expands and builds infrastructure to meet global demand.
Paul Martin, Chairman of Salvalco, added:
“We are delighted to continue to receive the support of both Foresight and Williams Advanced Engineering, which has enabled Salvalco to develop and commercialise a range of valves that will be truly game-changing in reducing the environmental impact and safety issues of the aerosol industry.”
To find out more about how Eco-Valve can benefit your business or for a complimentary sample contact firstname.lastname@example.org