Inventor gains backing for off-grid heating system technology
A Yorkshire inventor, who is developing a range of water heating products for off-grid energy markets, has secured a £400,000 investment to help bring the technology to market.
Max Smith has joined forces with his brother Guy and former colleague Chris Blaxall to launch Hydrotherm. The three men were the team behind Carlton Manufacturing, the Goldthorpe-based company which supplies eco-friendly building products and which they sold to Grafton in 2015.
Max and Guy also previously established Nanoflam, a Queens Award for Enterprise business, which they sold in 2010.
Under its Hydrotherm range, the company aims to develop an innovative lithium-ion powered portable water heater initially for camping and leisure activities, but also for use by lone workers where immediate hot water is required for showering or washing tools.
It is also developing a range of stainless steel handmade rocket stoves and related camping stove accessories under its Rocketman brand.
The company is based at Escrick Business Park in York, and the funding will allow the business to begin recruitment and continue with developing its products while assessing market demand.
Funding came from NPIF – Mercia Equity Finance, which is managed by Mercia Fund Managers and is part of the Northern Powerhouse Investment Fund.
David Best, investment director at Mercia Fund Managers, said: “The Hydrotherm team are serial entrepreneurs with a track record for successfully building and selling companies and bringing new products to market.
“The off-grid, camping and outdoor markets are growing, and we are backing Max and the team to take advantage of the connected products and market opportunities around this niche sector.”
