Sewer technology firm wins £650k North West investment
Bradford University spinout, Acoustic Sensing Technology, has raised £650,000 from The North West Fund for Energy and Environmental.
The business, which will open its new office at Sci-Tech Daresbury in March, has created a new product called the SewerBatt, which assesses the condition of sewer pipes using low cost acoustic technology.
University of Bradford and the startup worked closely together to develop the product in a team led by Professor Kirill Horoshenkov and Professor Simon Tait.
The firm plans to sell to water companies and contractors around the world in countries such as North America, Australia and parts of Europe.
Investment from The North West Fund was managed by CT Investment Partners and provided by the European Regional Development Fund and the European Investment Bank.
Michael Bakewell, investment manager at CT Investment, commented: “This is an exciting new investment and the first in the water industry for The North West Fund for Energy & Environmental.
“The SewerBatt™ will be hugely beneficial to water companies across the globe because it can identify the quality and condition of sewers more easily, quicker and cheaper than the current technologies and methods.”
Acoustic Sensing Technology’s chief executive, Nick Hawkins, added: “It has been a pleasure working with The North West Fund and CT Investment Partners and we are delighted to have them on board.
“The funding will enable us to refine our existing product and bring more products to market over the next few years in the acoustic, water and other related fields.”
Mr Hawkins and director of technology, Richard Long, worked closely with the University of Bradford and The North West Fund to bring the SewerBatt product to market.
This was posted in Bdaily's Members' News section by Miranda Dobson .