The Venture Codex

Participated · Equity · Jun 2011

ACAL Energy is a Runcorn, Halton, UK-based developer of low-cost Proton Exchange Membrane (PEM) fuel cell systems, modules and consumable chemicals. Led by CEO Dr SB Cha, the company targets stationary, residential and automotive applications requiring more than 1 kW of power. It intends to use recent funding to develop its first stationary power product and to demonstrate a stationary power prototype at Solvay Ltd’s Warrington site later this year. The company also plans to accelerate development of aspects of its technology for automotive applications. ACAL Energy closed a £6.1m funding round, providing capital to advance product development and field demonstration.

Participated · Equity · Jan 2011

Microvisk Technologies, based in St Asaph, Denbighshire, UK, develops a handheld system to monitor blood clotting for patients taking warfarin. Led by CEO John Curtis, the company has developed a MEMS-based medical diagnostic strip and the Smartstrip® device for at-home testing. It expects to launch Smartstrip in the UK this autumn and plans trials in the USA and Germany within six months, with launches in those countries anticipated to follow in 2012. Microvisk raised £6m in its third funding round and previously raised £4.5m in 2010. The new funds will be used to continue UK clinical trials, expand research and manufacturing facilities, and recruit additional scientists and manufacturing staff. Microvisk Technologies is developing a handheld system and a MEMS-based diagnostic strip called SmartStrip to let patients monitor blood clotting while taking Warfarin. The SmartStrip technology is based on a micro-electro-mechanical system originally created as a movement system for nano-robots. Microvisk intends the system to enable at-home testing similar to glucose testing for diabetics. The company will use the new capital to finalize product development and start the testing necessary to secure regulatory approval in Europe and the US. Microvisk is a spin-out from the Science and Technology Facilities Council and is based at St Asaph Business Park in Wales, UK. The company planned to launch the SmartStrip system onto the market in 2011. Microvisk Technologies develops a patented solid-state technology for point-of-care monitoring of blood coagulation for patients taking Warfarin. Its core product is the SmartStrip system, a completely solid-state technology used to assess clotting ability. The company planned to continue product development in 2010 and to launch the SmartStrip system in 2011. The technology targets the roughly 7 million people in the western world who use Warfarin. Microvisk was originally a spin-out of the Science and Technology Facilities Council and became an independent company in 2004. It is based at St. Asaph Business Park in Wales and received initial backing from Rainbow Seed Fund.