GAS completes fifth Green investment
Green Angel Syndicate has just completed its fifth investment into an exciting Middlesbrough-based company innovating in industrial waste water treatment.
The company, CatalySystems, won the Teesside Business Award for Innovation in 2014, and has been working on bringing its novel patented industrial waste water treatment process through various stages along its development path to reach commercial application scale. Earlier this year, its first full-scale demonstrator was shipped to a client site in Cumbria for further validation testing under NDA.
The Company has already taken small footsteps into export markets, in line with its market growth strategy. To date, the Company has an appointed marketing Agent in Oman, and is in the process of completing a distribution/project support agreement, with a recognised player in the water sector in India.
GAS, which was recently runner-up in the UKBAA Syndicate of the Year awards, has invested alongside regional investors, North East Technology Fund LP, managed by IP Group, and North East Finance (Subco) Limited, managed by North Star Ventures, reaching a total of £0.8 million. This follows on from a £0.9M investment made into the business in July 2012.
Nick Lyth, Director of GAS, comments: “CatalySystems is making strides in an important area of water treatment which requires urgent attention. Its progress in addressing the challenges industry is required to meet will bring benefits for water reuse everywhere.”