E-SYNERGY ANNOUNCES £600,000
SUSTAINABLE TECHNOLOGY FUND INVESTMENT IN INK JET INNOVATOR PTL
24 September 2007
STF invests £600,000 in Patterning Technologies Ltd
Michael Stevens joins as new PTL Chairman
The Sustainable Technology Fund managed by E-Synergy has announced a £600,000 investment
in UK-based industrial ink jet company, Patterning Technologies Limited (PTL).
PTL has developed revolutionary industrial ink jet systems designed for use by
manufacturers of printed circuit boards (PCBs). The technology offers time, cost
and environmental savings through fewer manufacturing steps, increased flexibility
and reduced use of expensive and toxic materials.
Michael Stevens, who led the successful international growth of ink jet specialist
Linx Printing Technologies plc, is to join PTL as Chairman to oversee the next phase
of its development. PTL has also signed a partnering agreement with German PCB
drilling machine specialist KLG-Maschinen who will act as manufacturing partner
and as a sales and distribution channel.
The Fund, which focuses on UK companies developing clean and efficient industrial
processes, is investing £600,000 alongside £250,000 from private investors in this
funding round. The investment will allow PTL to finalise product prototypes of its
drop placement engine in conjunction with its partner KLG-Maschinen.
"Patterning Technologies is already producing samples that are of better precision
and quality than any other system, and early adopter customers have already found
it delivers the manufacturing advantages promised," said Andrew Stevenson, Chief
Executive of E-Synergy. "We are confident that PTL is in a strong position to
establish a leadership position, both in Europe and globally, as the PCB market
for this new technology opens up."
This is the latest in a series of investments by the Sustainable Technology Fund
which is a £30 million UK limited partnership fund backed by a mix of institutional
and private investors. It has already invested £500,000 in UK automotive systems
specialist Lysanda’s pioneering vehicle emissions monitoring technology, £325,000
in natural refrigerant specialist Earthcare Products Ltd, and £750,000 in Morgan
Everett which is developing innovative waste management technology.
More information about E-Synergy and the Sustainable Technology Fund is available
at www.e-synergy.com. For information about PTL, go to
http://www.pattech.com
ENDS
Notes for Editors
E-Synergy specialises in venture investing in early stage high technology companies.
The Company was founded in 1999 by the CEOs of four major technology development
and licensing organisations, to fill the investment gap which exists between
business angel investors and conventional venture capital companies. The founding
directors all have many years’ experience and success in the commercial exploitation
of technology in UK and international markets. An important aspect of its investment
process is to help new technology companies to acquire the business and commercial
skills necessary for growth and success.
E-Synergy raised the £30m Sustainable Technology Fund last year. The fund complements
its existing pipeline of activity that includes running a private investor-backed
Early Growth Fund, management of the East Midlands Early Growth Fund on behalf of
the East Midlands Development Agency, and acting as co-ordinator for the Emerald II
fund that supports commercial projects based on research from London’s universities.
E-Synergy is authorised and regulated by the Financial Services Authority.
Contacts
Sam Richardson, E-Synergy, 020 7583 3503
Rob Haslett, PTL, 07788 922538
Chris Clarke/Elizabeth Holt, Holt PR, 020 8334 8354
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