UK technology business Evove has today announced the completion of a funding round of £5.7 million. Capital was injected by existing investors and two new international specialist investors from climate-tech and additive manufacturing venture funds, alongside continued support from existing investors.
Highlights
- At One Ventures from Silicon Valley and AM Ventures from Germany join existing investors to fuel growth
- Funding will enable the organisation to expand manufacturing capacity, scale up its 3D printed membrane process and capitalise on its substantial pipeline of opportunities
- Company will focus on key products and customer base established in lithium extraction, food & beverage, desalination, ultrapure water and water reuse
The round was led by At One Ventures, backers of high growth companies using disruptive deep tech to upend the unit economics of established and emerging industries while dramatically reducing their planetary footprint.
“To fully transition to a net zero economy, we need to increase lithium supply and enable green hydrogen production,” said Helen Lin, Partner at At One Ventures. “We believe in Evove’s ability to transform these sectors due to the strength of not just its technology but the team. They have a strong track record in delivering growth and investor returns, as well as a passion for creating scalable industrial solutions.”
Chris Wyres, CEO of Evove Ltd commented, “We are thrilled to have received support from At One Ventures and AM Ventures in addition to further investment from our existing investors. This funding will enable us to increase manufacturing capacity and expand our service and support network, enabling us to help end-users solve some of the world’s biggest water and energy challenges.”
Johann Oberhofer, Managing Partner at AM Ventures, said, “We are convinced that Evove is a prime example of how additive manufacturing can transform our world and significantly reduce CO2 emissions in many areas. We back trailblazing entrepreneurs in 3D printing and Evove are at the forefront of precision engineered filtration membranes that will significantly disrupt the status quo in their markets.”
Establishing new manufacturing facilities in the north-west of England will create high-value jobs and economic growth in the region. Evove’s innovative membrane technology has a significant impact in a number of industries, including lithium, desalination, food & beverage, green hydrogen, semiconductor manufacturing and water reuse. Evove has already deployed its solutions across a broad range of applications, driving down energy consumption, saving precious water and helping build supply-chain resilience.
Andrew Greenaway, Chairman of Evove said, “This is an exciting time for Evove, we are grateful for the continued support of our existing investors and delighted to welcome two such highly regarded new investors to the company who bring significant experience of backing high growth technology businesses. Evove’s technology has major applications in multiple global markets where the company already has a significant revenue pipeline working with end user development partners and I look forward to the next stage of the company’s development with confidence.”
Evove Ltd was advised on this transaction by Shoosmiths Leeds (legal). At One Ventures were advised by Withers (legal).
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