Antimicrobial Technology Developed by Novel Technologies Holding

Glasgow-based Novel Technology gets £500K funding to develop ‘anti-smell’ fabric.

19:58 27 February 2020

Private equity investor Foresight Group has given Glasgow-based Novel Technology £500,000 in growth capital investment to develop ‘anti-smell’ fabric after developing an eco-friendly antimicrobial technology. 

 

Novel Technology was founded by inventor Zahir Ahmed and life sciences entrepreneur David Evans in 2017 after they discovered the commercial potential of SILVERbac technology. They have since assembled a team of industry specialists to raise capital and commercialise the technology, which will target the healthcare, activewear and hospitality sectors. 

 

Foresight senior investment manager Hugh Minnock said: “We are excited to back the NTH team as they progress with the commercialisation of their pioneering SILVERbac technology. The inherent, eco-friendly antimicrobial technology is well-aligned with Foresight's mission to invest for a smarter future.”

 

Dr Stewart White said: “I am pleased to welcome our new investors to NTH at a time when the company is poised for growth. We look forward to an exciting future enabled by the support provided by both existing and new investors in this funding round.”