As part of the Torbay Hi Tech Forum, Alert Technology receives business support form TDA and has benefitted from the Torbay Growth Fund, which has helped them achieve their business goals. TDA has also worked in partnership with Crowdcube to deliver networking events and business advice across South Devon. The press release below shows some of their recent successes, something the TDA Business team are very proud of and look forward to working with them both in the future.
Please find their press release:
Alert Technology and Crowdcube leading innovation from the South West
Two South Devon-based companies, both innovators in their respective fields are coming together to prove that investment in our post-Brexit world is far from flat and that British businesses continue to lead the way in technology and fintech.
Torbay based Alert Technology Ltd (a spin-off of The Select Group of Companies Ltd) has developed the ‘Asbestos ALERT’ believed to be the world’s first real time warning device that can distinguish between asbestos and non-asbestos fibres in real-time by measuring both the laser light scattering and magnetic properties of individual respirable particles.(More details on how ALERT works are available online).
Asbestos, a category 1 human carcinogen, is the biggest occupational killer in the world and responsible for approximately 100,000 deaths every year (Source WHO) – that’s roughly 1 person every 5 minutes. In the UK alone, it claims 5,000 lives a year according to the HSE (20 per week of which belong to tradesmen), which is considerably more than traffic fatalities (Source UK HSE Website).
Many wrongly assume because asbestos was banned in the UK in 1999 that it no longer poses a risk. Unfortunately due to its extensive use for generations asbestos presents a massive legacy problem. Many homes, commercial and public buildings built prior to 1999 may contain asbestos which when disturbed or degraded releases toxic fibres into the air. The National Union of Teachers (NUT) estimates 86% of UK schools contain asbestos based on a Freedom of Information request to local authorities and they are calling for “teachers to be protected from the “scourge of asbestos” in UK schools”. (Source: BBC News online 17 June 2015)
“In the UK and Europe legislation is moving towards greater monitoring, control and ultimately the safe removal of all asbestos which means the market is ripe for new disruptive technology such as Asbestos ALERT”, says Alan Archer Brixham-born MD of Alert Technology Ltd.
The Asbestos ALERT is lightweight, portable and affordable and once launched, will provide users with a real-time warning if asbestos has been disturbed and fibres released in to the environment. Mr Archer, a former tradesman himself feels passionately about Alert and says, “Over the years I’ve lost friends and former colleagues to asbestos related diseases and I hear more tragic stories weekly. A real-time warning device such as ALERT could help prevent prolonged, inadvertent exposure – providing users, such as tradesmen, with a vital first line of defence and help to prevent future lives from asbestos related diseases such as mesothelioma, asbestosis and other related cancers.”
ALERT currently has two models ready for rapid commercialization and on the 3rd October it will launch a crowdfunding campaign to raise the equity investment needed to fast track Alert’s global market launch, create new jobs in the area and to begin research and development on new industry specific models. Alert Technology Ltd are looking to raise a total of up to £2.5m over the next two years.
Mr Archer says of choosing Exeter-based Crowdcube, “It felt very right for us to turn to another local company for help with funding and they are the world’s first and leading investment crowdfunding platform.” Crowdcube have more than 300,000 registered members and over £185 million successfully raised to date proving daily that people are willing to invest in innovative British businesses. In fact, they have successful completed their own funding round recently, raising over £8m in growth capital from 3,700 investors.
Darren Westlake, CEO and Co-Founder of Crowdcube commented, “Being a South West based business ourselves, we’re very pleased to see Alert Technology fundraising on Crowdcube, creating awareness about the great businesses that are developed in this region.”
Alert’s crowdfunding campaign goes live on 3rd October. For more details on the risks as well as potential rewards involved with investments of this nature and to view Alert’s full pitch visit:- www.asbestos-alert.com and www.crowdcube/alert-tech .
Investing involves risk and should be done only as part of a diversified portfolio. Investing equity in start-ups and early stage businesses involves risks, including illiquidity, lack of dividends, loss of investment and dilution. Crowdcube is targeted exclusively at investors who are sufficiently sophisticated to understand these risks and make their own investment decisions. Approved as a financial promotion by Crowdcube Capital Limited which is authorised and regulated by the Financial Conduct Authority (No. 650205).