Intellitect Water, a Christchurch, UK-based developer of a range of sensor probes that will help the water utilities make substantial operational cost savings, has received £1m investment commitment from Catapult Venture Managers.
The commitment is part of a £2m fund raising which also includes existing investors Credit Suisse and Pemberstone Group.
The company’s flagship device, the IntellisondeTM, will enable the water industry to have access to real-time online monitoring of water quality within their network distribution pipes and measure chlorine without the need for chemicals or membranes.
After that the technology has been trialled successfully both in the UK and overseas, Intellitect Water plans to use the funds to further increase production capability while increasing sales coverage on a global basis.
In conjunction with the funding, Peter Bridge of Catapult joins the company as a non-executive director.
FinSMEs
02/02/2010