Kelda Technology closes £1.5m investment in partnership with 24Haymarket
Kelda Technology, the British clean tech business that has developed the world’s most efficient shower system today announced that it has closed a £1.5 million investment in partnership with 24Haymarket to enable the company to continue its rapid UK and international growth.
Kelda Technology has adapted cutting edge automotive and aerospace technology to produce a revolutionary “water-in-air” shower system that halves water use without any loss in performance. Water is broken into droplets to form a comfortable spray which is accelerated using a globally patented jet-type nozzle. Not only does it halve water costs, but also halves associated heating costs.
The Kelda shower system holds appeal for a wide range of sectors, including gym and leisure, hotels and accommodation providers, healthcare and maritime – all industries where water efficiency is key. The product has completed in-market validation and commercial trials, is in manufacture and the company has already signed installation deals with some of the largest leisure operators in the UK and Latin America.
Kelda Technology was recently chosen as one of the top 30 cleantech companies in the world at the New Energy Start-Up awards 2016 and was this week shortlisted by the UK Business Angels
Association for Best Investment in a Disruptive Tech Business.
24Haymarket is a leading private capital group comprised of experienced investors, entrepreneurs and operators focussed on investment opportunities of up to £5m in high-growth companies. Following the investment from 24Haymarket, Kelda Technology has announced that Charlie Green will join the board, representing 24Haymarket.
Commenting on the investment, Charlie Green at 24Haymarket said: “24Haymarket is delighted to be supporting Kelda with a £1.5m equity investment to help scale the business now that it has proven its technology. We believe that the compelling environmental and economic benefits of Kelda’s innovative, patented shower systems make this a global product wherever water and energy resources are valued. We are also delighted that we have already been able to leverage 24Haymarket’s network to provide sales leads, potential resources and learnings from other portfolio companies to assist the management team in executing and realising its business plan.”
Chris Jackson, Chief Executive of Kelda Technology, said: “Water scarcity is an issue facing every continent and nearly 3 billion people. We’re at the forefront of reducing water wastage through the application of innovative technology. Even in areas not directly suffering water crisis, a combination of rising water costs and an increasing acknowledgement by businesses of the need to protect natural resources has seen strong demand for our systems.”
Adrian Mosley, Commercial Director goes on to say, “The investment and, just as importantly, the support of 24Haymarket and Charlie Green joining the board, will allow us to continue to build a scalable clean tech business in Southampton, with the ability to manufacture, sell and support globally.”