Foresight Group and Williams Advanced Engineering (WAE) have increased their stake in UK aerosol valve company Salvalco.
The independent infrastructure and private equity investment manager and engineering company announced a £500,000 (€553,000) follow-on investment to support the development of aerosol valves that use ecologically sustainable propellants.
Overall, the Foresight Williams Technology EIS Fund has invested £3.2 million (€3.5 million) in Salvalco, following an initial investment in April 2018.
Salvalco, which developed its innovative valve systems at Salford University in the North of England, recently secured an investment from Beiersdorf to support the research and commercialisation of its patented Eco-Valve technology. The investment forms part of Beiersdorf’s ambition to drive sustainable solutions under its sustainability agenda.
Paul Martin, chairman of Salvalco, commented: “We are delighted to continue to receive the support of both Foresight and WAE, 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.”
The Eco-Valve technology allows eco-friendly inert gases such as nitrogen or simple fresh air to be used as propellants in aerosol sprays, therefore enabling a more sustainable alternative to conventional aerosol propellants.
John Holden, director at Foresight, said: “Salvalco has demonstrated extraordinary progress in developing a truly eco-friendly and revolutionary approach to the problem of the polluting gases in traditional propellants.
“With truly global appeal for the product, it’s no surprise that major players such as Beiersdorf have shown interest in Salvalco’s proprietary technology.”
“Salvalco’s Eco-Valve technology has the potential to revolutionise the aerosol industry, as indicated by Beiersdorf’s recent investment in the business,” said Matthew Burke, head of technology ventures at WAE. “We are, therefore, excited to continue our support for Salvalco both with this follow-on investment and engagement with WAE.”