Aeristech reflects on winning the Emerging Technology Award at the 2015 UKBAA Awards
Warwickshire-based Aeristech is at the heart of the UK automotive industry. It has access to automotive professionals, manufacturers, and prototype component suppliers.
In 2015 the company submitted a nomination in the Emerging Technology Award category for their patented technology in electric supercharging and turbocharging. Aeristech’s CEO Richard Wall explains, “as a new high-tech start up Aeristech was hungry for publicity and awards were a perfect way of getting some! It is also helpful to tell potential investors, ‘look independent judges recognise that we have an interesting development’.”
Aeristech was shortlisted alongside seven other companies and went on to win the category. “Winning is quite an ego trip. So far we have won 8 different awards all of which recognise the importance of our technology.”
Since winning the award, Aeristech has been hard at work commercialising their technology. “Having invented the world’s most power dense variable speed motor we have commercialised two applications – supercharging engines and pressurising the air supply to a fuel cell. We learnt that to create a market for something new you not only had to prove that it worked but also it would be profitable, including developing a costed mass production prototype.”
Richard admits that it has been a long road that included continual fund raising but last year the company’s efforts paid off. “We have signed technology licences; our supercharger will to swamp us. We are have having to relocate to larger premises and doubled our staff numbers. Once the relocation is completed the Company will start recruiting 10 craft apprentices. The bottom line – we will end this year close to the black and earn profit next year.”
Aeristech has been supported by Business Angels, most notable Minerva, Angels5k and Midven, the latter encouraged the company to send in their nomination for the 2015 awards. Richard acknowledges the huge role that Business Angels have played in Aeristech’s story saying, “without them we wouldn’t have got anywhere. Their loyalty and willingness to invest and keep investing is remarkable. The Board of Aeristech would like to take this opportunity to thank them.”
Looking to the future, Aeristech is trialling a third technology, the world’s first Centrifugal Industrial Compressor delivering air at high pressure. Sharing the company’s vision for the technology Richard reveals, “we are hopeful that by the summer we will be able to claim that we are about to change the way oil free air is delivered in industry. Our compressor should be cheaper and a lot more efficient than the positive displacement compressors currently used. Watch this space.”
Richard also invites any potential collaborators to take the Aeristech Challenge. He asks, “what could a power dense motor do that existing motors can’t?” If you can please get in touch with on 0780 114 1690 or via email at [email protected].
Nominations are now open for the UKBAA Angel Investment Awards 2019, which takes place on Tuesday 2nd July at Illuminate at the Science Museum in London. Find out more information and submit your nomination at http://awards.ukbaa.org.uk.