Glasgow company raises £2.1m to commercialise anti-smell fabric technology
A Glasgow company has raised £2.1m, including a £500,000 growth capital investment from Foresight Scottish Growth Fund, to bring its eco-friendly, antimicrobial technology, which eliminates harmful and malodorous bacteria in fabrics, to market.
Novel Technologies Holdings’ third round of investment from the £20 million Foresight Scottish Growth Fund will help it target the healthcare, activewear and hospitality sectors. The SILVERbac technology works by encapsulating pure silver within the fibres of textiles, making the product “antimicrobial for life”.
It claims to be the first technology to infuse fabrics with silver – other products only coat with silver. Silver is a natural antibacterial and can be used to inhibit disease, odour and staining.
The company said the technology has strong appeal in sectors where bacteria are common, such as healthcare where SILVERbac helps to combat pathogens including E. coli and MRSA. In activewear, bacteria contained within sweat can cause discolouration and odour.
Unlike other treatments, SILVERbac does not leach out of products, allowing fabrics to be washed at lower temperatures and with fewer chemicals
Novel Technologies was established in 2017 by inventor Zahir Ahmed and David Evans, a life sciences entrepreneur who identified the commercial potential of SILVERbac technology.
Mr Ahmed’s 25 years’ experience in textile development is complemented by chief executive Jud Lusk’s 30-plus years’ experience in developing and commercialising textiles across global markets. Executive chairman Dr Stewart White has been chief executive of two life-science companies.
Foresight Scottish Growth Fund is financed by the Scottish Government and European Regional Development Fund (ERDF).
Hugh Minnock, senior investment manager at Foresight, said: “The inherent, eco-friendly antimicrobial technology is well-aligned with Foresight’s mission to invest for a smarter future.”
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