G-volution

Business profile

Location: Newport, Gwent

Sector: Cleantech, automotive

Web site: www.g-volution.co.uk

Investment

First round: £150,000 (part of a £400,000 syndication)

Co-investors: Company founders and private investors (undisclosed)

Type: Equity

Executive: John Mihell

Why we invested

Early stage company, G-volution developed and patented its Optimiser system, enabling vehicle engines to use two or more fuels sources at the same time. The innovation is designed to reduce fuel costs and carbon emissions. The company targets its product at commercial vehicle operators and has built a strong customer base.

G-volution attracted investor interest with its strong management team, IP and market potential. It was referred to Finance Wales by a Carbon Trust incubator.

Outcome

G-volution has attracted interest from commercial vehicle operators and aims to capture 10% of the heavy goods vehicle sector. It plans to use the investment round for product development and market expansion.

Testimonials

"This latest investment enables us to expand and develop the Optimiser’s underlying technology to target a wider range of applications in the commercial vehicle sector as well as investigating opportunities in new sectors, including rail and maritime. We're also keen to benefit from our investors' experience." Chris Smith, managing director, G-volution.

"G-volution's technology is already attracting a great deal of interest from commercial vehicle operators eager to save on fuel costs and reduce carbon emissions and this investment round will enable G-volution to continue to develop its technology and achieve even greater carbon savings." John Mihell, early stage investments executive, Finance Wales.

Advisers

IP and commercial: Conduit Partners

Financial: Verve

Legal: Hugh James

Management: Diligencia