Note: The contents of this article are the author's opinion and have not been approved as a financial promotion.
We are delighted to announce that we have successfully completed a £788k fundraise for Salford Valve Company Ltd (Salvalco).
A total of £2.5million was raised from a consortium of six companies: Growthdeck, Beiersdorf, Foresight Williams Technology, AWI Ltd, Fin.Esse S.p.A. and Green Angel Syndicate (GAS).
Salvalco, which was founded in 2013, is responsible for creating the highly innovative eco-friendly aerosol technology - Eco-Valve. The market leader in inert gas propelled aerosol technology, the valve uses environmentally friendly nitrogen as its propellant rather than butane, which is a contributor toward global warming. Eco-Valve enables reduction in carbon footprint and the use of harmful pollutants, whilst still offering unbeatable spray performance.
Iconic brands such as NIVEA are already using the Eco-Valve technology for their products. Last year, NIVEA developed its first deodorant range with the Eco-Valve: NIVEA ECODEO.
The valve, which is protected by eight global patents, is fast becoming a popular alternative to traditional valves and helping to support consumer demand for more environmentally friendly options.
The funds will be used to expand manufacturing capacity at Salvalco’s plant in Thailand. It will also be invested in R&D operations and to further develop the patent portfolio.
As global demand for aerosols continues to increase (with aerosol use forecast to rise 25% in the next 4 years), Salvalco anticipates that more consumer goods companies will switch to its eco-friendly valve.
Our CEO, Ian Zant-Boer, comments:
“Considering current market volatility it is fantastic to see Salvalco manage to raise this money so quickly. The oversubscription is a sure sign of confidence in Salvalco and suggests many are optimistic about the company’s future.”
“Salvalco’s pioneering eco-friendly technology has already seen great success and we look forward to seeing the company continue to progress. Key players across the industry have recognised the benefits of Salvalco’s technology. That is a major endorsement and a strong indicator of where the business is going.”
Peter Shaw, Managing Director of Salvalco, adds:
“We are thrilled to have secured further funding from such a great consortium of companies. The collaboration will play an integral part in helping the next phase of our growth journey as we see the demand for Eco-Valve continue to rise. Moreover, the partnership also demonstrates a strong shared commitment to supporting the environment too. And it is by working together with all our stakeholders, we passionately believe we can not only support the aerosol industry but revolutionise it.”
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