Warrington R&D firm secures £287k funding

Warrington-based R&D company 2DHeat Limited, which has developed and patented a novel form of electric heating element, has secured funding totalling £287.5k.

2DHeat Limited has received £125k equity investment from The North West Fund for Energy & Environmental, which is managed by 350 Investment Partners, £32,500 of angel investment.

It has also received a £90k grant from Innovate UK (formerly the Technology Strategy Board) and a £40k grant from the Science and Technologies Facilities Council.

The funding will be used to provide growth capital to support the commercialisation of its novel thick film heating technology help and create three additional jobs within the company.

The company, which has plans to move to Merseyside, produces innovative ‘flat’ electric heating technology that can be sprayed on to suitable surfaces of products.

John Lewis, managing director of 2DHeat, said: “We are delighted to receive this significant investment. The increase of CO2 levels into the atmosphere is a global problem and we have put intensive resource into this technology to make its application more energy efficient. This investment will allow us to commercially exploit the product to a wider audience and identify major market opportunities in other sectors.”

Michael Bakewell, investment manager at 350 Investment Partners, said: “This is the 17th investment the fund has made to date and we are genuinely excited by the opportunity that it presents. 2DHeat is pioneering a truly disruptive technology that has the potential to significantly impact on the global ultra-high vacuum market. We look forward to supporting the business as it continues on its journey towards commercialisation.”