How the fund has supported Ventive
Ventive has developed a revolutionary range of products which use passive heat recovery technology to provide ultra-efficient ventilation solutions, requiring no electricity or plumbing and incurring practically no maintenance or operating costs. The systems enhance indoor air quality to alleviate problems such as condensation and mould without incurring heat loss.
The company’s initial trade product was a patented system called Ventive S, retro fitting into unused chimney cavities to provide fresh air circulation by exploiting the different pressures of internal hot air and external cold air. The company’s latest product, Ventive S+, uses the same technology but works in new build and as well as retrofit markets.
The company was founded by the inventor, Tom Lipinski, who later recruited CEO Rob Morrison to drive the business forward and secure investment. In January 2013 the Angel CoFund partnered with a syndicate of high calibre angels to make a combined £900K investment (the Angel CoFund making up c.40%). Funds were invested to provide working capital and support R&D, the company has also made substantial investment in its manufacturing capabilities.
The lead angel for the transaction, a former senior executive at several large public companies, has joined the board of Ventive in a non-executive capacity in order to provide support and mentoring as the company expands.
As well as gaining sales traction, Ventive has also recently been the recipient of a host of awards and accolades including Regional Winner for Low Carbon Innovation at the Shell SpringBoard Awards.