Water treatment firm to save businesses thousands
Published: 17th February 2009
AtraNova receive the keys to their new site at the Advanced Manufacturing Park. (From left to right) Chris Fitzsimmons from SYIF, Philippa Hedley from the Advanced Manufacturing Park, Anuj Joshi from Strategic Sites, Alex Simpson chief executive of AtraNova and Paul Wilkins technical manager at AtraNova.
Paul Wilkins technical manager at AtraNova, Philippa Hedley from the Advanced Manufacturing Park, Anuj Joshi from Strategic Sites, Alex Simpson chief executive of AtraNova and Chris Fitzsimmons from SYIF.
An innovative water treatment company is moving to South Yorkshire to expand and develop its unique product which could see businesses save hundreds of thousands of pounds.
AtraNova has exclusive use of a new patented technology called Ebonex, a titanium sub-oxide material from which the company has developed an electrolysis based system to create a chemical reaction and improve a company's effluent discharge into the sewer.
AtraNova, a spinout from Cambridge technology consultancy Sagentia Group plc, has been operational for 18 months. Now ready to roll it out commercially, AtraNova is relocating to a site within the Advanced Manufacturing Park, between Rotherham and Sheffield, after receiving a £500,000 equity-based investment from South Yorkshire Investment Fund (SYIF).
AtraNova is working with businesses from the food, beverage, chemical and textiles industries which pay around £250,000-£300,000 a year to water companies for the treatment of their waste water. The aim of the Ebonex technology is to reduce this bill by between 50 and 80 per cent.
A number of companies around the country already have the equipment installed and operational and AtraNova aims to have a dozen in operation by the end of 2009.
AtraNova provides the equipment on a no charge basis but enters an agreement to take 50 per cent of the savings the company makes.
Martin Frost, chairman of AtraNova, said: "Installing the product in this way is a statement of our belief and confidence in it. We believe in the technology and the market and know we have the potential to save a significant amount of money for many cash constrained businesses.
"As with all new technology, this approach provides us with a chance to show the customer how our product will work and the commercial benefits it offers their business at no cost to them."
The investment from SYIF will enable AtraNova to double its workforce during the next six months to manage the expansion of its operations.
Martin added: "We decided to move to South Yorkshire because of the excellent support that is available to businesses and many of our customers are likely to be based within easy reach of Sheffield.
"The money from SYIF will enable us to increase staff numbers to manage the equipment, the installation and provide support to customers. It will also help AtraNova create new business opportunities from an important manufacturing base."
Chris Fitzsimmons, investment manager at South Yorkshire Investment Fund, says: "This is a significant investment in AtraNova by SYIF because we have seen the vast potential of the company and its product.
"Not only will they help reduce costs for businesses, which during the current climate will be essential, but it will also be of benefit to the environment by reducing the level of contamination in waste water which ends up in the river system.
"AtraNova will also enable businesses to expand their operations further without fear of increasing the amount of waste produced."
SYIF can provide seed corn, loan and equity linked investments, ranging from £15,000 to £2.5m, specifically to help small and medium businesses meet the gaps in funding they need for growth and development.
For more information about South Yorkshire Investment Fund, please visit www.syif.com or ring 01709 386377.
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About South Yorkshire Investment Fund
South Yorkshire Investment Fund provided seedcorn, loan and equity linked investments, ranging from £15k to £2.5m, specifically to help small and medium businesses meet the gaps in funding they need for growth and development.
Created as part of the Objective 1 programme, the Fund is a private and public sector business finance provider. The European Regional Development Fund and Yorkshire Forward are investors in the Fund.
South Yorkshire Investment Fund also provided access to Business Angel investments from the Yorkshire Association of Business Angels and Microloans through BiG Business Loan Fund and Donbac Microloan Fund.
Finance Yorkshire has now taken on responsibility for providing gap finance in Yorkshire and the Humber.
For further details please contact Suzanne Tinkler, on 0845 649 0000.
South Yorkshire Investment Fund Ltd is a company limited by guarantee (Registered No 3936065). South Yorkshire Investment Fund comprises three sub funds, the South Yorkshire Investment Capital Fund, the South Yorkshire Investment Development Fund, which are each managed by YFM Venture Finance Limited, and the South Yorkshire Investment Small Business Fund, which is managed by Finance South Yorkshire Ltd. YFM Venture Finance Limited (Tel 0113 294 5000) and Finance South Yorkshire Ltd (Tel 01709 386 377) are each authorised and regulated by the Financial Services Authority. South Yorkshire Investment Fund also provides a number of services, which are not regulated by The Financial Services Authority. These include the pilot Seedcorn Fund, BiG Business Loan Fund, Mentorbank and access to the Donbac Microloan Fund. BiG Business Loan Fund is managed by Donbac Ltd (company registration No. 01925556) and Key Fund Yorkshire Ltd (Tel 0114 242 8900).