Investment
The Scottish venture capital firm Braveheart Investment Group has invested approximately £1 million in NiTech Solutions Ltd, a spin-out company from Heriot Watt University, which has developed a patented mixing technology for process industries. The investment includes contributions from the Scottish Co-investment Fund, a £45 million investment fund managed by the development agency Scottish Enterprise.
NiTech was spun-out from Heriot-Watt in 2003, to commercialise Continuous Oscillatory Baffled Reactor technology. Since then, NiTech has developed the process to meet the specific needs of customers including Genzyme and Johnson Matthey.
NiTech claims the process can lower process costs by 50 per cent and reduce process time by 90 per cent in the manufacture of a range of products, including chemicals, drugs and consumer goods.
The new money will enable NiTech to develop the technology for other markets.
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