09 Aug Oxi-Tech, a ground-breaking clean-in-place disinfectant technology company, receives record investment from Henley Business Angels members
Oxi-Tech, a company that has developed ground-breaking, clean-in-place disinfectant technology using water and electricity, has received the largest investment from Henley Business Angels to date, contributing towards a funding round of £1m. Fourteen HBA members worked together as a syndicate, with member Damian Cavanagh leading the syndicate and coordinating with Paul Morris, CEO of Oxi-Tech.
The Agricultural technology sector contains large, automated, critical systems across the food manufacturing process from milking machines to animal feed systems. Clean water is absolutely essential for their operation, due to the nature of these systems becoming a breeding ground for bacteria and other pathogens such as Staphylococcus (Mastitis), E-Coli, M. Tuberculosis and Avian Flu (H5N1). Current methods of disinfection – not only in agriculture but across sectors – primarily utilise chemicals, which are not only time-consuming but also costly and with high levels of risk associated.
The gap in the market to produce a technology that eliminates the high recurring costs and safety risks of traditional chemical disinfectant processes has been filled by Oxi-Tech’s patented, ground-breaking, clean-in-place technology. Their technology creates an oxidation process in-situ from tap water, that is safe to use for humans and animals. Activated Oxygen is a very powerful disinfectant, but temporary in nature, enabling tap water to return to its normal state within minutes of use; except that this water will be pathogen-free.
The use of Oxi-Tech’s technology enables the removal of aggressive chemical-based disinfection solutions, such as chlorine, and removes the need for their heating, storage and the environmental burden of such a carbon-heavy supply chain. The solution provides an estimated £20,000+ in savings per year to farmers implementing their system over traditional, chemical solutions, as well as reducing CO2 output and removing the use of harsh and dangerous chemicals from the process. After successful trials in the UK and the Middle East, Oxi-Tech is now ready to commercialise the technology with a team that has an excellent track record in developing sustainable, innovative, high-growth businesses.
Oxi-Tech’s technology can be applied across a variety of sectors, including utilities, the built environment, agriculture and water supply. The company is in the initial stages of focusing its efforts on the agricultural sector. Oxi-Tech’s technology is sold through key dedicated manufacturers and equipment suppliers in their sector of focus. The company is also investigating developing and deploying a business model to introduce recurring revenue streams by exploiting their IP, an approach Henley Business Angels encourages entrepreneurs to pursue at their quarterly Investment Readiness Workshops.
Paul Morris, CEO of Oxi-Tech was looking forward to working with Henley Business Angels members, saying “Working with the HBA group has been an overwhelmingly positive experience. The team, ably coordinated by Damian Cavanagh, were professional from the start. In Due Diligence they were thorough and to the point, but also swift and responsive. HBA have shown consistent quality of engagement from the beginning and came through on their commitments. Our team looks forward to getting down to the business of growth from here on in, and we see having the HBA investor group on side as a valuable source of experience and strength.”
Damian Cavanagh, HBA member and Lead Investor for the syndicate investing in Oxi-Tech said “Three elements must be present for a company to raise angel investment: a first-class business opportunity, honesty and transparency and a committed, positive group of investors. With regard to transparency, Paul Morris and Oxi-Tech were exemplary; responding to all requests for information promptly, professionally and efficiently. This built confidence from the start and enabled us to complete the transaction within two months of the pitch.
Henley Business Angels members are exactly the type of committed and positive group of investors needed to undertake a deal such as this, and therefore it has been a pleasure to lead this investment round. There are so many benefits to sharing Due Diligence and co-investing in this way as it brings diverse skills and expertise to the table for everyone’s benefit. I am confident that all of the knowledge and experience within the Henley Business Angels group will be an invaluable resource for Oxi-Tech as they seek to build a hugely successful business.”
Jurek Sikorski, HBA Founder and the network’s Entrepreneur Lead was delighted by the investment, saying “HBA is delighted to be participating in Oxi-Tech’s fund raise and supporting a truly innovative cleantech business which we think has enormous potential for sales growth. We wish Paul Morris and his team great success in scaling the Oxi-Tech business.”
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