At The Salford Valve Company Ltd (Salvalco), founders of innovative aerosol technology Eco-Valve, collaboration with key stakeholders lies at the heart of the successful launch of their innovative and ground-breaking new technology.
With the environmentally friendly valve becoming increasingly popular across the aerosol industry, support from stakeholders has played a pivotal role in the development and launch of the disruptive Eco-Valve technology. And it’s such collaboration that is firmly at the centre of Salvalco’s success in getting their first product references into the market.
Eco-Valve is the result of years of extensive research and development by the University of Salford led by Professor Ghasem Nasr. Unlike traditional valves, the Eco-Valve technology allows eco-friendly inert gases such as nitrogen or simple fresh air to be used as propellants in aerosol sprays. Removing the need for propane and butane, this enables a more sustainable alternative to conventional aerosol propellants.
Collaboration with investors – Williams Advanced Engineering
Salvalco has benefitted from over £3 million of funding, over recent years, from an investment fund managed by Foresight Group LLP in collaboration with Williams Advanced Engineering (WAE). The Foresight Williams Technology (FWT) EIS and VCT funds are targeted at investing in innovative small and medium-sized UK technology businesses. More specifically, the FWT EIS Fund is an Enterprise Investment Scheme (EIS), financing early-stage, unquoted companies developing disruptive technology and pioneering innovation.
Funding however is only one area of support gained from the collaboration between the two companies. After investment, portfolio companies such as Salvalco are introduced to the FWT partnerships team who work with them to identify opportunities for WAE to support technology developments and commercial growth.
WAE’s technical, commercial, and promotional support has proved invaluable during the formative stages of the company’s growth. For Salvalco this has included several introductions to key stakeholders, partners, and potential customers across the supply chain. The business has also engaged with the team on R&D and manufacturing. In addition, business research support, product development, engineering expertise and overall guidance around facilitating growth have also been key benefits.
Maria Nelson, Senior Partnerships Manager at Williams Advanced Engineering said:
“When we met Salvalco in 2018, they had developed a family of new aerosol valves which we recognised had several advantages over existing technologies. By removing environmental damage, health risks to users and complexity in the supply chain, this technology could disrupt the worldwide aerosol valve market. Their first product references in the market is huge testament to Salvalco and serves to demonstrate the quality of such ground-breaking technology and the environmental benefits it will bring for generations to come.”
“Working with Managing Director, Peter Shaw at Salvalco has been a real pleasure. We believe that Salvalco represents a unique investment in a highly disruptive technology with significant market potential, and in an organisation ready to take advantage of that demand.”
“As the Senior Partnerships Manager, working in the WAE Technology Ventures team, a significant portion of my time is spent with the FWT portfolio, working with the founders and delivering continuous improvement activity; engaging and gathering insights about each company’s needs.”
“Essentially, the purpose of the partnerships team is to be available to support and add value to our portfolio companies, providing them with guidance, technical expertise, and introductions to our network as required to enable growth.”
Paul Martin, Chairman of Salvalco, added:
“We are delighted to continue to receive the support of both Foresight Group 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.”
It is technology like Eco-Valve that is enabling us to be the change needed in the world. Offering a more sustainable way to spray for consumers, which in turn enables brand owners and retailers achieve their CSR goals. And with interest from other brands gathering pace, the business looks forward to collaborating further with the team at WAE, harnessing their expertise and announcing further product references in the future.”
For more information on Foresight Williams Technology Funds visit: https://www.foresightwilliams.co.uk/