This is the first closing as part of Ventive’s proposed £1 million to £1.5 million investment programme, with further new investment anticipated prior to 30 April 2024 in one or more additional closings. The Investment was led and syndicated by EMV Capital, the Company’s wholly owned venture capital and corporate finance firm.
The proceeds of the Investment will support the completion of the design and test phase and factory build for Ventive’s modular heat pumps, further enhancements to its passive air ventilation product range, and build-up of its marketing and sales capacity to drive sales of its existing product range. The Ventive balance sheet is also streamlined following the conversion of the convertible loans.
“This investment is a strong endorsement of our work, and recognition of Ventive as a pioneer in the design of naturally intelligent ventilation systems to deliver fresh air at minimal energy cost” said Rob Morrison, Managing Director of Ventive. “Since heat pumps are powered by electricity, a comparatively easy source of energy to decarbonise, they can play a prominent role in bringing down the environmental footprint of homes and other buildings. EMV Capital has provided invaluable support to our fundraising efforts and growth strategy planning, and we are grateful to our shareholders for their continued support in a tough macro-economic climate.”
Ventive designs and manufactures intelligent heating and ventilation solutions to make buildings healthy, comfortable, efficient, and affordable. Its products address two high priority markets segments: air quality and sustainable heating.
Ventive's passive air ventilation system has been delivered to over 30 schools and five leisure centres, achieving excellent air quality results. Its novel heat pump product, which is in advanced stages of development, is a comprehensive solution for residential applications, with a unique modular design and a novel thermal store. Momentum for the business is underpinned by significant regulatory changes, increasing energy prices, and climate change policies.
“We are pleased to see Ventive close out the first tranche of this important fundraising programme, which includes both fresh investment and the conversion of existing convertible loans” added Ed Hooper, Executive Director of NetScientific and Investment Director at Ventive. “We believe that this fundraising positions Ventive well for further growth and we look forward to continuing to work closely with Ventive in this rapidly growing high-impact market segment.”
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