Partner Article

Mole Engineering heats up after Positive funding

Wirral-based specialist engineering firm Mole Engineering (Wirral) Ltd (“Mole Engineering”) has developed and launched a unique energy saving valve after securing a £100,000 funding line from invoice finance company, Positive Cashflow Finance (“Positive”).

Produced in Cornwall, the innovative CombiSave is a retro-fitted thermostatically operated valve that can save 6 litres of water and 200 watts of gas each time the user turns on the hot water tap.

CombiSave works by measuring the temperature of the water and, if it is below 40 degrees, it slows the flow rate down to 2 litres per minute. As the water reaches 40 degrees the valve slowly opens to allow full flow of water. Without CombiSave, cold water is wasted down the drain while the user waits for the water to heat to the desired temperature.

Established in 1990, Mole Engineering carries out directional drilling, pipe installations and repairs throughout the UK. Mole Engineering’s clients include Channel 4’s Grand Designs, Tesco, MOD and the Environment Agency. Mole Engineering specialises in small hole drilling, which is less disruptive to the area and environment.

David Furlong, director at Mole Engineering, said: “The slow down in the construction industry has given us the motivation to diversify our product offering. The funding line enabled us to create a product that addresses key issues within the industry while helping households and businesses save hundreds of pounds a year.

“We decided to go with Positive over venture capital or bank loans because it gave us the security and control we felt was missing from working with other funders. Positive also provided us with the guidance and personal touch that banks couldn’t give us.”

David Smith, managing director at Positive, said: “The environmental, housing and construction industries have responded very favorably to CombiSave. Water and building management companies have also praised the product as it helps them avoid penalties for high usage.

“David is a natural born entrepreneur. He is never short on ideas, and we were more than happy to provide him the funding and business support he needed to develop and launch CombiSave.”

This was posted in Bdaily's Members' News section by Positive Cashflow .