The Development Bank of Wales provides equity and loan financing to support business growth and technological innovation across Wales.
The Gwynedd wholesaler has raised debt financing from the Development Bank of Wales to transition its delivery fleet to electric power.
"We’ve grown over the years because we’ve always taken a long-term view of our business, and we’ve always tried to be sustainable. Not just because it’s good for the environment, but also because it can cut costs and allow us to pass those savings on to our customers."
The funding from the Development Bank of Wales will help the university spinout commercialise its rapid diagnostic tests for urinary tract infections.
"UTI prevalence is rising with an ageing population and the increase in antibiotic resistant infections. The gold standard for UTI diagnosis is microbiological urine culture and, in the UK, millions of urine tests are processed and cultured each year. However, a major drawback of urine culture systems is the time lag of approximately two days between specimen collection and pathogen identification. Fast and accurate diagnosis, leading to a rational treatment, is essential to achieve a timely and effective therapy."
The funding round combines backing from the Development Bank of Wales and Women Angels of Wales with grant support.
"We’re working hard to encourage more women to get involved with angel investing. Our support for Kaydiar is a great example of bringing together grant, angel and institutional funding to provide the resources to support the development of an innovative, early-stage company in Wales. Our syndicate is delighted to support Heather Smart and David Barton, two young podiatrists who are applying new technologies to improve patient outcomes in the footcare sector. We all look forward to working with Kaydiar to build a world class company."
The funding supports director Shane Clee in acquiring the established precast concrete manufacturer.
"After 24 years with Forden, this is a great opportunity to take on the business myself and work with our close-knit team to continue doing what we love and know best. We’ve worked closely with Geoff to build the strong reputation that we have and now look forward to getting stuck-in with our plans for future growth but we wouldn’t be doing it without the help of the Development Bank. From start to finish, they have been brilliant and I’m very grateful for their support, advice and reassurance throughout the process."
The funding from the Green Business Loan Scheme will help power the Anglesey salt harvesting and visitor centre.
"Given the amount of roof space on our saltcote and visitor centre at Tŷ Halen, having solar panels installed at the site to cut our carbon output and our energy bills was an obvious next step, and the support provided via the Green Business Loan Scheme was exactly what we needed."
