Henley-in-Arden, 13 June 2013 – Venture capital fund manager Mercia Fund Management (MFM) is pleased to announce that Ventive has been named national runner up in the Shell Springboard awards 2013. The awards were highly contested with 150 finalists from across the UK.
In May, MFM announced that it participated in an equity raise of more than £900,000 for Ventive Ltd. MFM joined an angel funding round which was also supported by the Angel Co-fund.
Ventive has offices in London and Birmingham, and was named runner up for its Passive Heat Recovery Ventilation Unit that mimics nature to reduce domestic heat loss by up to 97% and counter ‘sick building syndrome’ by combatting poor air quality.
The product operates on the simple principles of air buoyancy and also harnesses the wind. Warm stale air rises and pre-heats incoming sinking fresh air through the Ventive technology.
Andrew Oldfield, Head of Cleantech at Mercia Fund Management said: “We are delighted that Ventive has received this highly coveted recognition for its innovative technology. We have worked with the Ventive team to create a focussed and scalable operation, so it is incredibly exciting to have third party endorsement of the company and technology from Shell Springboard.”
Shell UK Chairman Edward Daniels, hosted the 2013 Shell Springboard awards ceremony at the Royal Academy of Engineering where we celebrated low-carbon SMEs and their achievements.
Shell Springboard aims to find, showcase and support the next big idea in low carbon enterprise and innovation by small businesses. Now in its eighth year, the programme has awarded over £2.5 million in funding to innovative low carbon businesses that are developing new ways of reducing CO2 emissions.
About Mercia Fund Management
Mercia Fund Management (MFM) is a venture capital fund manager with over £17 million under active management.
MFM provides investment growth capital for businesses ranging from early commercial traction through to those seeking expansion or working capital that are trading profitably. Furthermore, MFM can also provide cost-effective incubator accommodation at Forward House in Henley-in-Arden coupled with centralised support services in keeping with its model as a hands-on, supportive investor.
MFM is an FCA authorised and regulated fund manager under FSMA (FRN: 524856).