Consortium invests in company behind eco-friendly aerosol technology
North Yorkshire-based Salford Valve Company Ltd (Salvalco) has confirmed its latest round of investment, securing a total of £2.5m.
The funds have been raised from a consortium of six companies including Beiersdorf, Foresight Williams Technology, AWI Ltd, Fin.Esse S.p.A., Growthdeck Ltd and Green Angel Syndicate (GAS).
Salvalco, which was founded in 2013 and is based in Escrick, outside York, is responsible for creating eco-friendly aerosol technology – Eco-Valve.
The valve uses environmentally friendly nitrogen as its propellant rather than butane, which is a contributor toward global warming.
Eco-Valve enables reduction in carbon footprint and the use of harmful pollutants. Brands such as NIVEA are already using this technology for their products. Last year, NIVEA developed its first deodorant range with the Eco-Valve: NIVEA ECODEO.
The valve, which is protected by eight global patents, is becoming a popular alternative to traditional valves and helping to support consumer demand for more environmentally friendly options.
The latest funds will be used to expand manufacturing capacity at Salvalco’s plant in Thailand. It will also be invested in R&D operations and to further develop its patent portfolio.
Ina Zant-Boer, CEO of Growthdeck, said: “Considering current market volatility it is fantastic to see Salvalco manage to raise this money so quickly. The oversubscription is a sure sign of confidence in Salvalco and suggests many are optimistic about the company’s future.
“Salvalco’s pioneering eco-friendly technology has already seen great success and we look forward to seeing the company continue to progress.
“Key players across the industry have recognised the benefits of Salvalco’s technology. That is a major endorsement and a strong indicator of where the business is going.”
Peter Shaw, managing director of Salvalco, added: “We are thrilled to have secured further funding from such a great consortium of companies.
“The collaboration will play an integral part in helping the next phase of our growth journey as we see the demand for Eco-Valve continue to rise.
“Moreover, the partnership also demonstrates a strong shared commitment to supporting the environment too.”
