Year: 2019

Case Study: Accelerating in Acquisitions

Case Study: Accelerating in Acquisitions

ZTC is a leading Chinese manufacturer of seats for passenger and commercial vehicles, with customers including Caterpillar and SAIC.

Headquartered in Tiantai, Zhejiang Province, ZTC is listed on the main board of the Shanghai Stock Exchange.

Turquoise’s latest white paper, ‘ZHEJIANG TIANCHENG CONTROLS (ZTC) CASE STUDY, is now available to download here.


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Turquoise International appointed to manage new fund

Turquoise International appointed to manage new fund

As a specialist merchant bank focusing on energy, environment and efficiency, we are thrilled to be appointed as fund manager for Low Carbon Innovation Fund 2 (LCIF2). Following our success of the first Low Carbon Innovation Fund, LCIF2 will invest venture capital alongside private sector investors in a range of businesses delivering low carbon technologies.

LCIF2 is supported by £11m of capital from the European Regional Development Fund (ERDF) to be invested alongside at least the same amount from private investors. Investment sizes will range up to £1m, including follow-ons. The original Low Carbon Innovation Fund, managed by us, supported more than 70 companies and generated over £68m of investment in the East of England region.

We were selected to manage the original LCIF initiative and were privileged to see some world-class clean technologies being developed by investee companies.

We are committed to continuing to support new, ground-breaking technologies through LCIF2.

Further information on Turquoise is available at https://www.turquoise.eu/ and on the first Low Carbon Innovation Fund at https://www.lowcarbonfund.co.uk/home.


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Meeting the market’s need for sustainable manufacturing…

Meeting the market’s need for sustainable manufacturing…

In our latest white paper, we spoke with the managing director of Alvant, John Bonas, to discuss how his business offers solutions to the growing challenges manufacturers are facing. With pressure from both government policy and customer demand to improve the sustainability of their products, while also meeting stringent cost and performance requirements, manufacturers can benefit from using Alvant’s aluminium metal matrix composites (AMCs).

Alvant is investing in the development of AMCs as a direct replacement for steel or more expensive materials to save time, money and the environment in industries including transport, aerospace, automotive, consumer products, energy and healthcare. Within these sectors, the company focuses on product groups falling into three main categories: reliability and safety; motion and logistics; and performance and precision.

After a number of successful tests, and having recently won a series of new contracts in aerospace, defence and automotive, with more to be announced soon, it proves that the timing of Alvant’s AMC product and the market readiness have aligned. As a result, Alvant is now working with Turquoise as it takes the next steps on its journey towards securing future growth through partnerships and/or investment from strategic players.

Download our white paper here to find out more about Alvant.


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Delivering a lasting advantage

Delivering a lasting advantage

There is increasing pressure on manufacturers, from both government policy and customer demand, to improve the sustainability of their products while also meeting stringent cost and performance requirements. In this white paper, we interview John Bonas, managing director of Alvant, an advanced materials company that specialises in the design, development, testing and manufacture of aluminium metal matrix composite materials and components (AMCs).

With the potential to be used across a range of industries, AMCs not only help meet sustainability targets but also enhance product capability. Having recently closed an investment round, Alvant is now working with Turquoise as it takes the next steps on its journey towards securing future growth through partnerships and/or investment from strategic players.

Turquoise’s latest white paper, ‘Alvant – Composite Materials: Delivering a lasting advantage, is now available to download here.


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Next generation medical technology M&A

Next generation medical technology M&A

Case study: Oval Medical Technologies

Oval is a Cambridge-based developer of novel auto-injectors that allow patients with chronic medical conditions to self-administer medication.

With Turquoise International providing M&A advice, find out what Oval has achieved.

Turquoise’s latest case study, ‘Oval Medical Technologies’, is now available to download here.


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LCIF Investee SME and Schottel Hydro merge plans

LCIF Investee SME and Schottel Hydro merge plans

SME 2019

Low Carbon Innovation Fund portfolio company Sustainable Marine Energy merges with Schottel Hydro

Sustainable Marine Energy (SME), a portfolio company of the Low Carbon Innovation Fund (LCIF) managed by Turquoise, has merged with the tidal energy operations of Germany-based Schottel Group, a manufacturer of propulsion and steering systems for ships. The decision follows the two parties’ successful collaboration on the development of SME’s PLAT-I floating tidal energy system in both Scotland and Canada. This is good news for SME shareholders as the company now has access to the funding needed to continue its path to a commercially feasible tidal power system.

Turquoise and LCIF have assisted the company in its development from an early stage technology developer to an international tidal power services company.  David Casale, representing LCIF on the board of SME, said: “Tidal energy has a role to play in the transition to a low carbon economy and where many other early movers in the industry have encountered significant issues SME has continued to adapt and respond to the market around them for which they are to be congratulated.”

Schottel has transferred all its tidal energy activities, including UK-based Tidal Stream and Canadian unit Black Rock Tidal Power, to SME. In return, the German group has received an equity stake that makes it SME’s largest shareholder. “Following a comprehensive, strategic business and technology review, we believe that SME is best placed to deliver commercially viable tidal energy systems to the market,” stated Andreas Block, CEO of the Schottel Group.

SME will offer its own platform and anchoring products along with Schottel’s tidal turbine technology. In addition, the company will continue to develop projects in the Canadian province of Nova Scotia including utilising a 5MW berth at the Fundy Ocean Research Center for Energy (FORCE). The immediate focus of the combined business will be on improving the floating PLAT-I tidal energy system, which is equipped with four Schottel Hydro SIT250 turbines. The platform was deployed in Grand Passage, Nova Scotia, in September 2018 after previously being tested in Scotland.

Following the merger, SME’s management and engineering teams will remain in the UK, while the Schottel Hydro team will continue to be based in Germany and focus on the design of its turbines. Schottel Group will continue to deliver engineering and technical support, and manufacture power take-off systems.

LCIF looks forward to the new SME delivering its exciting and ambitious business plan.


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EooooooW!

EooooooW!

“Escape of Water” (EoW) is widely acknowledged to be a major problem for the insurance industry. Burst pipes and their consequences are estimated to cost insurers at least £1.8m in claims every day and last winter’s “Beast from the East” cost them £194m in one quarter alone according to the Insurance Times. Whereas older properties are at risk from rusting pipework and general decay, modern ones can have different problems. Recessed and hidden pipes, the use of PVC instead of metal and the proliferation of plumbed-in appliances all contribute to leaks that can go undetected until the plaster starts falling off the ceiling or you wake up one morning to standing water in the kitchen.

Fortunately, a range of companies are responding by coming up with practical solutions designed to work under real world conditions. These range from complex pieces of kit like that made by the German plumbers Grohe to cheaper devices such as Leakbot from Homeserve Labs which are easy to install but only notify the householder of the problem and have no automatic water shut-off. This can be a bit inconvenient if you receive a text message while driving down the M25 in heavy traffic on a bank holiday weekend.

One of the most expensive on the market is from Buoy Labs of Santa Cruz, USA and costs $299 upfront plus $17.99 a month thereafter. It functions almost as a “water disaggregation” device, analysing the amount of water used by your WC, shower, sink, washing machine, sprinkler etc. While this kind of functionality is no doubt interesting if you’re living in the Mojave Desert where every drop of water counts, it’s less important in a temperate country like the UK with an adequate amount, or in some parts a super abundance, of rainfall.

When it comes to solving EoW, it’s probably not necessary to have water disaggregation. Instead what you really need is the reliable detection of the risk of a leak, or if you’re unlucky, of the actual event itself and an automatic way of shutting off the mains before too much damage is done. Anyone who has experienced a flood will know that drying out a house and repairing the affected areas are only part of the story. Finding somewhere else to live in the meantime is arguably the greatest inconvenience!

Waterlock, a new EoW device developed by smart home products company Geo (https://www.geotogether.com/waterlock/) and marketed jointly with property underwriting agency inet3 can provide this protection by detecting standing water, excess humidity and freezing pipes. It automatically shuts off water supplies when triggered. After the problem is solved, or in the event of a false alarm, the water can then be turned on again remotely or manually with ease which means that the householder doesn’t have to locate and wrestle with a rusting stopcock. Waterlock was recently premiered on the underwriting floor of Lloyd’s insurance market as part of their innovation showcase, where it attracted considerable interest.

Turquoise acts as fund manager of the Low Carbon Innovation Fund, a shareholder in Geo.


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