Kelda Technology secures £1.5m from 24Haymarket to accelerate international expansion
The clean tech business has closed the investment to fund its continued growth in the UK and overseas markets.
British clean tech company that developed a water-in-air shower system designed to halve water and heating usage.
Kelda Technology has closed a £1.5m investment in partnership with 24Haymarket. The funding will support the company's continued growth across the UK and international markets, building on its completed commercial trials and existing installation agreements in the leisure sector.
The company has adapted automotive and aerospace engineering to create a patented shower system that accelerates water droplets through a jet nozzle. This approach halves water consumption and associated heating costs without affecting performance.
Following the transaction, Charlie Green from 24Haymarket joins the board of directors to represent the private capital group.
From the founder
"Water scarcity is an issue facing every continent and nearly 3 billion people. We’re at the forefront of reducing water wastage through the application of innovative technology. Even in areas not directly suffering water crisis, a combination of rising water costs and an increasing acknowledgement by businesses of the need to protect natural resources has seen strong demand for our systems."
Chris Jackson
Chief Executive at Kelda Technology
Investor perspective
"24Haymarket is delighted to be supporting Kelda with a £1.5m equity investment to help scale the business now that it has proven its technology. We believe that the compelling environmental and economic benefits of Kelda’s innovative, patented shower systems make this a global product wherever water and energy resources are valued. We are also delighted that we have already been able to leverage 24Haymarket’s network to provide sales leads, potential resources and learnings from other portfolio companies to assist the management team in executing and realising its business plan."
Charlie Green
Investor, 24Haymarket
Use of funds
- 01Expand into international markets
Investors
Categories
About the company
Kelda Technology
Kelda Technology builds water-efficient shower systems using adapted aerospace technology.