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Young Sheffield clean fuel entrepreneur eyes further expansion with new funding

The Sheffield Hallam University graduate behind Air Global, the company which has pioneered a new form of clean fuel, is looking to expand his firm’s range of products following new backing from Finance Yorkshire.

Lewis Bowen founded the energy firm after graduating from university five years ago, with a focus on developing a range of safe and clean candles and firelighters in response to the millions of people who die every year due to indoor air pollution from harmful fuels.

The firm’s stand out product is the bio-oil candle LightMe which utilises a sustainable source of palm kernel oil, which burns more cleanly than regular candles and extinguishes itself if it is knocked over.

Air Global is now turning over £150k a year with particularly strong demand coming from the developing world where there is high-demand for cheap, safe, alternative fuel sources.

Lewis is now targeting £3m turnover in the next three years and hopes that the new £300k funding boost from Finance Yorkshire will help fuel that growth

Following this new injection of funding, he said: “Our aim as a business is to take consumer products and make them better for the environment. Our first goal has been to stop deaths occurring as a result of indoor air pollution.

“LightMe has been our most successful product to date and we are now looking to develop variations such as scented candles.

“The investment from Finance Yorkshire means that we can meet the needs of current and future customers, develop new ideas and create change for good across the world.”

Finance Yorkshire’s investment has come from its Seedcorn fund, which focuses on early stage technology ventures, and adds to the 460 Yorkshire businesses and £377m it has invested in local businesses.

Alex McWhirter, chief executive at Finance Yorkshire, said: “This investment comes at a vital time for the business, enabling it to scale up and realise the significant opportunities it sees in the market. We will continue to work alongside Air Global as they realise their growth ambitions.”

Emma Cross, investment executive at Finance Yorkshire, who will join Air Global’s board as a non-executive director, added: “We were impressed by this young and entrepreneurial management team and their exciting new product range. Their passion and drive to eradicate harmful fuels, mixed with a commercial edge, makes this business one to watch.”