Arvia gains £3.8m in new funding round

ARVIA Technology has secured £3.8m to develop its organics destruction technology used in the nuclear and water sectors.

The investment is a follow-on from UMIP Premier Fund – a fund operated by MTI Partners on behalf of the University of Manchester’s Intellectual Property company. It has led the all-equity deal which has also brought in funding from
new investors Sustainable Technology Investors Limited (STIL) and Park Walk Advisors, alongside a number of smaller existing shareholders.

Arvia is a spin-out from the university that has commercialised its technology to destroy organic substances that are either dissolved or dispersed in water.
 
The company said that it had made great strides in developing an application to destroy radioactive oils, which is being developed alongside Magnox at Trawsfynnyd Power Station in North Wales.  Radioactive oils are difficult and often impossible to treat and at present are often simply stored, which is not a sustainable solution.

Arvia is also performing field trials in the municipal, industrial and swimming pool water markets, where its technology offers a chemical-free, waste-free organic method of cleaning liquids.

MTI’s managing partner David Ward said: “Arvia was the first spin-out investment from the University of Manchester that MTI invested in from the UPF.  

“The company has been a fantastic role model, using MTI’s initial series of investment monies to expand and professionalise its management team and to gain revenue traction by delivering commercial solutions to market. 

“A more substantial funding round to support and accelerate growth was the next logical step and we are delighted to welcome the new investors that have joined us in putting together this new investment.”

The legal advisors on the deal were Laytons and Leeds-based 3volution.