2nd February 2022
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Since the original investment in 2018, NPIF – Maven Equity Finance, managed by Maven Capital Partners and part of the Northern Powerhouse Investment Fund has invested a total of £970,000 to support Evove.
The latest £250,000 investment in June 2021 followed a period of growth which included creating a further facility at Sci-Tech Daresbury, expanding its team and customer reach and developing its product portfolio.
After celebrating a number of milestones, Evove’s core water filtration product has been successfully tested on a full scale industrial laundry operation, enabling recycling of the hot water, reducing water usage and energy consumption, as well as enhancing operational efficiency. The latest investment allowed the business to accelerate roll-out of this and other products.
Evove’s graphene-based coatings technology provides efficient and cost-effective solutions to a broad range of filtration applications and can be used in conjunction with existing filtration membranes and systems. The technology has the potential to be used across multiple markets including the treatment of produced water in the oil & gas industry for oil and water separation, industrial and processed waste water treatment, processing and waste water treatment in the food, beverage and dairy industries, domestic water filters, and desalination.
With an increasing need for high quality drinking water using affordable solutions in both industrialised nations and the developing world together with increasing regulatory and cost pressures, Evove has identified a major opportunity to provide high separation efficiency solutions to real world problems for a range of contaminants.
Backed by a highly skilled and experienced management team and network of industrial partners to commercialise its pioneering technology, Evove’s Executive Chairman, Andrew Greenaway, spent fifteen years at SIG plc, a FTSE listed European industrials business, as Director of Strategy and Corporate Development.
Andrew is supported on the Evove Board by Craig Clement, COO, a qualified accountant who has first-hand experience of commercialising chemistry technologies from his CFO role at DataLase; Dr Chris Wyres, highly experienced CEO, with over 20 years’ experience in advanced materials and technology development and a strong track record of delivering success and returns for investors; and Jeremy Pelczer, Non-Executive Director, Chair of SES Water and former Chair of the charity Wateraid International, former CEO of RWE Thames Water and former President of American Water.
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
Maven Capital Partners UK LLP is authorised and regulated by the Financial Conduct Authority, Firm Reference Number 495929.
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