South West Ventures Fund - Strathdon Investments plc - £500,000 investment in nanoparticle analysis company
5th October 2005
Strathdon Investments plc ("Strathdon"), the technology investment firm, today announces that it has made an initial investment of £90,000 in Nanosight Limited ("Nanosight") and has a one-year option to invest a further £250,000 on the same terms. The deal, led by Strathdon, has a total value of £500,000, with the South West Ventures Fund providing £150,000 and the remaining funding provided by a private investor.
Nanosight has world-beating technology in the optical detection and real time analysis of nanoparticles and molecular structures. Nanoparticles are widely used in substances including scratch resistant coatings, sun protection creams and Silicon wafer production slurries. Global production of nanoparticles is currently estimated to be in excess of 1,000 tones per annum and is expected to grow by between 10 and 100 times this amount over the next 5 years.
Nanoparticle analysis is used across a broad range of industries including electronics, biotech, cosmetics and energy - the analysis provides knowledge critical to researchers in nanotechnology, product developers and quality assurance professionals.
The company, headquartered in Salisbury UK and has an international distribution network. Its customers include BASF, National Grid Transco, Seagate and Micro Emissive Displays, as well as universities such as Birmingham, Surrey and Leeds. Nanosight's unique process of nanoparticle analysis using patented technology costs less than a tenth of the cost of using electron microscopy, traditionally used for measuring these types of particles.
The nanoparticle manufacturing market, estimated to be worth over $20bn, offers the most immediately addressable market for Nanosight's visualisation technology. The most recent funding round will be used to drive sales into this market.
The latest funding follows a £1.2 million 'Technology Programme Project' awarded to Nanosight by the Department of Trade and Industry in September 2004. The project, with funding from the DTI and the National Endowment for Science, Technology and the Arts, involves a collaboration with Smiths Detection-Watford Limited ("Smiths"). Smiths develop and manufacture detection equipment for civil and military markets worldwide. The objective of the project is to develop a bio-terrorism detection product by combining the existing visualisation technology with a revolutionary new method of creating artificial antibodies.
Commenting on this investment, Hugh Stewart, Chief Executive of Strathdon said:
"Nanosight fits well within our investment focus. We have three other advanced sensor businesses in Strathdon's portfolio so it is a type of business that we understand well and which has good growth dynamics. Nanosight has a strong management team and unique technology in a market which is expanding and where there are a wide range of applications."