Ecoanolytes set to clean up with £1 million loan

A Dundee cleaning products manufacturer is targeting international growth after securing new funding.

Ecoanolytes, established in 2018, develops eco-friendly cleaning and sanitising products under its Dew brand. 

Designed as a safer alternative to traditional chemical cleaners, the products use electrolysed water and hypochlorous acid, a naturally occurring antimicrobial compound, to provide non-toxic, hypoallergenic solutions for surfaces, hands and even food preparation.

The company has secured a £1 million loan from the British Business Bank’s Investment Fund for Scotland through appointed fund manager The FSE Group. 

Bosses say the funding will support increased operational capacity and expansion into international and business-to-business markets.

They add that plans include the creation of more than 30 jobs over the next three years as the business strengthens its global footprint. 

Additional equity investment has also been secured to complement the loan and support the projection-led growth strategy.

Erik Smyth, chief executive of Ecoanolytes, said: “This funding has enabled us to scale our operations while reinforcing our commitment to delivering safer, sustainable and highly effective cleaning solutions globally.

“The support from FSE has been instrumental in helping us reach this stage of growth, and securing the IFS loan has strengthened the confidence of potential equity investors.”

David Young, investment manager at The FSE Group, added: “Ecoanolytes boasts an impressive senior team and has already established key connections with major buyers. 

“Its product range’s proven effectiveness, along with environmental and safety credentials, make the business a compelling investment opportunity. 

“We are excited to support this next stage of its expansion.”

The Investment Fund for Scotland, a £150 million initiative from the British Business Bank, aims to boost innovation and widen access to finance for growing businesses across the country, supporting firms that may otherwise struggle to secure traditional lending.

Sarah Newbould, senior investment manager at nations and regions investment funds at the British Business Bank, added: “Ecoanolytes is a great example of the type of ambitious innovative Scottish business that the Investment Fund for Scotland seeks to support. 

“Its offering reflects a growing global demand for more sustainable and non-toxic alternative and its plans to expand internationally show how Scottish businesses can compete on a global stage. 

“We look forward to seeing the positive impact this investment will have on the firm.”

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