29 Jul 2013
"With the help of The North West Fund we have been able to manufacture our nanoelectrode products on a commercial scale and develop them for international markets."
Cheshire-based manufacturer NanoFlex, which provides high performance electrodes for electrochemical research, has teamed up with Lancaster University to undertake a project through the Centre for Global Eco-Innovation.
NanoFlex was founded by scientists Dr Neville Freeman and Dr Amy Farrington in 2008 following their pioneering work on the manufacture of nanoscale electrodes. The North West Fund for Venture Capital, managed by Enterprise Ventures invested in the technology business last spring to help the company explore different uses for their products and accelerate global sales.
Neville and Amy, who are both experts in electrochemistry, set up their company at Daresbury Science and Innovation Park and since receiving funding have introduced their products to researchers in fields as diverse as medical diagnostics, environmental testing and energy storage.
Amy said: "Nanoelectrodes have been manufactured in laboratories for some time and they can offer a number of exciting benefits. With the help of The North West Fund we have been able to manufacture our nanoelectrode products on a commercial scale and develop them for international markets."
The company recently appointed Metrohm, a leading global supplier of scientific instrumentation, to distribute its products in the UK and Ireland. Amy commented "The agreement reflects NanoFlex's commitment to quality and customer satisfaction".
Doug Stellman, investment director at Enterprise Ventures which manages The North West Fund for Venture Capital, said: "Neville and Amy have shown a significant amount of skill and expertise in the development and commercialisation of new technologies. The momentum of the business is picking up and we are confident that their products will provide a platform for groundbreaking developments in a number of exciting sectors."
NanoFlex was selected as one of fifty businesses to work intensively with Lancaster University through its researchers and graduates on environmentally friendly products and services in the Centre for Global Eco-Innovation, a radical new research centre. The company has been matched with a graduate who will undertake a three-year programme of collaborative research to develop new products, processes and services for the global marketplace that have positive environmental benefits. Amy commented, "We are incredibly excited about the opportunity to work with the Centre for Global Eco-Innovation through Lancaster University and we're proud to be part of what is already proving to be a rewarding project."
NanoFlex also recently won the Merseyside Innovation Award 2013, winning £10,000 for the company as well as £4,000 worth of consultancy. The company plans to use the prize money to further develop its production techniques.
For more information about how you may be able to access funding for your new business please visit:www.thenorthwestfund.co.uk/funds/venture-capital