Money

Tech firm gains £500,000 funding to develop revolutionary 'anti-smell' fabric



Glasgow-based Novel Technologies Holding, which has developed an eco-friendly antimicrobial technology, has gained £500,000 in growth capital investment from private equity investor Foresight Group.

This is the third investment made by the £20 million Foresight Scottish Growth Fund and is part of a wider £2.1 million funding round for NTH.

The company was set up in 2017 by inventor Zahir Ahmed and life sciences entrepreneur David Evans, who identified the commercial potential of what is called SILVERbac technology and assembled a team of industry specialists to help Ahmed in raising capital and commercialising the technology.

Ahmed’s 25 years’ experience in textile development is complemented by CEO Jud Lusk’s 33 years’ experience in developing and commercialising textiles across global markets, while executive chair Stewart White was previously CEO of two life science companies quoted on AIM.

The company said the technology eliminates harmful and malodorous bacteria by encapsulating pure silver within the fibres of textiles making the product antimicrobial for life. NTH said SILVERbac is the first technology to infuse fabrics with silver, as other products only coat with silver. The metal is a natural antibacterial and can be used to inhibit disease, odour and staining.

NTH will target the healthcare, activewear and hospitality sectors in bringing the technology to market. The technology has strong appeal in sectors where bacteria are common. Examples include healthcare, where SILVERbac helps to combat pathogens such as E. coli and MRSA; activewear, where bacteria contained within sweat can cause discolouration or malodour; and hospitals and other sites where protection is needed against micro-organisms including norovirus.

Unlike other treatments, SILVERbac does not leach out of products, allowing consumers to wash the fabrics at lower temperatures and with fewer chemicals.

In addition, the company is moving rapidly into new markets including paints, coatings and oral healthcare.

Foresight senior investment manager Hugh Minnock said: “We are excited to back the NTH team as they progress with the commercialisation of their pioneering SILVERbac technology. The inherent, eco-friendly antimicrobial technology is well-aligned with Foresight’s mission to invest for a smarter future.”

Dr Stewart White said: “I am pleased to welcome our new investors to NTH at a time when the company is poised for growth. We look forward to an exciting future enabled by the support provided by both existing and new investors in this funding round.”



READ SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.