Envirotreat Ltd (United Kingdom) - Jan 2008

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01 January 2008

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The Sustainable Technology Fund, a venture capital fund managed by E-Synergy that focuses on investment opportunities in the clean technology and environmental sectors, has led a £1.7m series-B investment into toxic soil and waste remediation specialist Envirotreat Ltd. E-Synergy invested £1m in the round, taking a significant minority stake in the business, with Pre-X and Catapult Venture Managers contributing £350,000 and £325,000 respectively and the balance being provided by management. E-Synergy was attracted to the deal due to the fact that the current regulatory environment in relation to contaminated land is increasingly favouring Envirotreat’s business model, as well as the fact that the company’s technology is well protected by patents, which significantly lowers the risks involved. The new capital will be used to fund on-going sales and marketing efforts and to purchase capital equipment, as well as to develop the hazardous waste side of the business. The deal marks the eighth investment by the Sustainable Technology Fund in the past 12 months.

Company

Envirotreat, which is based in Kingswinford, West Midlands, has developed the proprietary E-Clay stabilisation technology, which enables the on-site treatment of contaminated land. The business was founded in 1990 and has been responsible for the cleaning up of more than 60 sites for both residential and commercial end uses, recently being awarded the Rushlight Pollution Management award.

People

Sam Richardson led the investment for E-Synergy and will join the Envirotreat board. The company has also recently appointed Duncan Martin, former director of hazardous waste at Veolia Environmental Services, as the new CEO.

Advisers

Company - Cobbetts , Graham Muth (Legal)Company - Pre-X, Stuart Hillston (Corporate Finance)Equity - Kingston Smith, Matt Jordan, Pell Frischmann (Other Due Diligence)Equity - Kingston Smith, Darren Murphey (Financial Due Diligence)Equity - Osborne Clarke, Robert Wood (Legal)

Sourced from: UK & Ireland unquote" 362 (Feb 2008)