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London, 03 August 2020: Foresight Group (“Foresight”), a leading independent infrastructure and private equity investment manager, and Williams Advanced Engineering (“WAE”) are pleased to announce a £500,000 follow-on investment from Foresight Williams Technology EIS Fund into Salvalco (“the Company”), to support the development of aerosol valves that use ecologically sustainable propellants. Overall, the Fund has now invested £3.2 million into Salvalco, following the original investment in April 2018.
The Company has recently secured an investment from Beiersdorf, a leading provider of innovative, high quality skincare products, including brands such as NIVEA, Eucerin and La Prairie.
Founded in 2013, Salvalco develops innovative valve systems, called Eco-Valve, based on prior research by the Spray Research Group at Salford University. The Eco-Valve technology allows eco-friendly inert gases such as nitrogen or simple fresh air to be used as propellants in aerosol sprays, thus enabling a more sustainable and safer alternative to conventional aerosol propellants.
Salvalco has subsequently developed a family of valves using this technology to pressurise the can without compromising user experience.
Commenting on the investment, John Holden, Director at Foresight, said: “Salvalco has demonstrated real progress in developing a truly eco-friendly and revolutionary approach to the problem of the polluting gases in traditional propellants.”
Matthew Burke, Head of Technology Ventures, Williams Advanced Engineering, added: “Salvalco’s Eco-Valve technology has the potential to revolutionise the aerosol industry, as indicated by Beiersdorf’s recent investment in the business. We are excited to continue our support for Salvalco both with this follow-on investment and engagement with Williams Advanced Engineering.”
Paul Martin, Chairman of Salvalco, added: “We are delighted to continue to receive the support of both Foresight and Williams Advanced Engineering, which has enabled Salvalco to develop and commercialise a range of valves that will be truly game-changing in reducing the environmental impact and safety issues of the aerosol industry.”