How the fund is backing a breakthrough in recycling
Founded in 2005 as a spin-out, Enval utilises research and development originally undertaken by the Department of Chemical Engineering at Cambridge University. The main focus of the business is commercialising patented technology for extracting valuable reusable materials (aluminium and hydrocarbons) from laminated packaging waste.
Using microwave induced pyrolysis techniques developed at the University and refined by Enval, a recycling plant platform has been designed and built which provides a sustainable alternative to landfill and other costly disposal solutions.
The Angel CoFund initially invested in Enval in May 2012 alongside a syndicate of angels and small institutional investors. The £1.5M round was raised to fund the development of the company’s first commercial facility.
"When we were looking for funding last year, finding that we could leverage more investment from the Angel CoFund was very helpful. Compared to a couple of funding rounds we experienced in the past, we found their investment process and due diligence rigorous but straightforward. Once the syndicate of angel investors was formed and their due diligence completed, the rest of the process was fairly quick and the Company was able to continue its work equipped with the cash needed to bring our recycling process to market." Dr. Carlos Ludlow-Palafox, MD and CTO.
Since receiving CoFund investment, Enval has completed the design of its first full commercial scale unit, secured premises to house it at the Enterprise Zone at Alconbury near Huntingdon and gained the necessary planning and environmental consents to operate there.