Partner Article

Major breakthrough for n-psl

Green technology company n-psl is gearing up enter a market worth £100m after winning £750,000 in funding and gaining the support of one of the most successful business leaders in the region.

The Gateshead firm is finally set to emerge from its two-and-a-half year research and development phase following its latest raft of investment.

The company has won £750,000 funding from the Enterprise Fund alongside a number of business angels including John Clough – the former chief executive of Eaga plc

Mr Clough, who will serve as a non-executive director of n-psl, played an instrumental role in building Newcastle-based Eaga into a £740m-a-year, multi-faceted environmental services enterprise.

He will be in good company at n-psl alongside its founder Colin Billiet - the former boss of filtration giant Domnick Hunter, one of the North East’s biggest businesses.

The company is now working in partnership with potential clients in the UK, Europe and the US to prepare for the commercialisation of its products which will provide the filtration industry with more energy-efficiency and help it reduce its carbon footprint.

Chief executive Mr Billiet said: “This investment will enable n-psl to progress to the next stage of commercial development.

“New products are to be introduced to the market using the novel adsorbent hollow fibre technology.

“Research has been expanded to ensure the technology lead is extended, supporting commercial developments. The new investors provide a strategic fit and will strengthen the Board of Directors, supporting ambitious plans for future growth.”

According to the company - which employs around 20 people - its technology has the potential to reach a niche global market worth £100m.

The Enterprise Fund is philanthropically backed, with a goal to raise £20m, and has already received generous donations from visionary leaders including Adrian Beecroft, Roger Brooke, Hermann Hauser, Stelio Stefanou and Lord Sainsbury of Turville.

This was posted in Bdaily's Members' News section by Ruth Mitchell .