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£3m investment raised with the support of the Centre for Global Eco-Innovation to assist businesses with new product development

The Centre for Global Eco-Innovation has supported 4 companies in the Northwest to raise just over £3m in grants and equity investment for the development and commercialisation of innovative eco-friendly technologies.

Inventya Ltd is a key partner in the Centre for Global Eco-Innovation. As a specialist commercialisation consultancy Inventya provide market intelligence for science, engineering and technology ventures. In addition they can assist businesses source finance to commercialise new ideas. They have recently worked with 4 businesses to draw in further investment:

Proveca, based in Sci-Tech Daresbury, are a specialist pharmaceutical company which focuses on developing innovative, technically complex, demand driven pharmaceuticals. After securing a SMART Proof of Concept grant from the Technology Strategy Board (TSB), thanks to support provided by Inventya through the Centre for Global Eco-Innovation, the company is developing a range of new drugs to treat children with chronic medical conditions. Proveca are aware of the impact that the drugs have on the environment, particularly aquatic life so have consequently developed a greener liquid formulation of a novel paediatric cardiovascular drug. Proveca successfully used the outcome of work carried out by Inventya to secure £2.6m funding from Albion Ventures to further its research into new treatments for children with chronic medical conditions.

Process AIM benefited from the support from the Centre for Global Eco-Innovation and the research provided by Inventya successfully to win an Oil and Gas grant from the Technology Strategy Board (TSB) in order to develop innovative software to address the of the upstream oil and gas industry to increase recovery efficiencies and improve asset utilisation. This innovative solution will reduce environmental pollution as will either permit zero level or an agreed maximum level of emissions. As a direct outcome one job was safeguarded and one new job will be created.

Milne Research Ltd were successful in winning a TSB High Value Manufacturing grant for a new Traffic Management System. The algorithm will enable energy efficiency assessment of power generating plants, thereby reducing energy requirements and co2 emissions from power generation.

Smart Component Technologies Ltd were able to identify and develop a novel technology for value assemblies which allows a condition monitoring pre-fault responsive system through the use of a High Value Manufacturing grant and an Oil and Gas grant, both from the TSB. The benefits of this new system will be increased safety, reduced maintenance costs and reduced environmental impacts such as oil leakages.

Fri 01 March 2013