Announcements
Earth Capital’s Nobel Sustainability Fund® invests a further £3.75m in water-saving technology
Date published: Monday, 11 April 2022
The Nobel Sustainability Fund® managed by Earth Capital, the global sustainable investing private equity specialist, announces an additional £3.75m investment into Propelair, the Essex-based manufacturer of what is believed to be the world’s lowest water-flush toilet system.
Further, the company has launched a separate equity raise through the Kickstart.Capital platform with a target of £1.75m to extend its already significant community of commercial advocates and supporters.
The combined funding will assist the company’s R&D into enhanced functionality and more sustainable production techniques, alongside a new online platform that provides customers with real-time and advanced diagnostics. Propelair expects these developments to accelerate its expansion into new markets and provide more value-add to existing customers. The company has already established itself with a growing list of commercial customers across the UK, South Africa and the Middle East.
Currently focused on the commercial market, the technology has been designed to be retrofitted onto existing drainage systems. The Propelair toilet uses on average 84% less water than standard toilets and reduces aerosolised germs in toilet cubicles by 95%.
The management team is led by David Hollander, former Managing Director of Dyson, who has made significant improvements across the business and product range, creating a platform for growth. The team will continue to benefit from Earth Capital’s experience and knowledge of strategic direction, oversight and transaction support.
Many high-profile global corporate brands are currently using Propelair’s toilet system across their estates. These include Asda, Aviva, Lloyds Bank, McDonald’s, Moto and Shell, Pets at Home, Royal Air Force, Severn Trent Water and Thames Water in the UK; Nedbank, Burger King, Hyprop, Siemens and numerous shopping centres in South Africa. After launching in the Middle East in summer 2021, Propelair has also secured six trials in Dubai in the banking sector and with commercial real estate owners, schools and a chain of cinemas; it is now branching out into Qatar and Jordan.
Avent Bezuidenhoudt, Head of Investment and Director of Earth Capital said: “This investment shows our confidence in the future of Propelair and its ability to scale globally. 2021 sales have produced strong growth despite the pandemic, and 2022 is showing further acceleration. This additional controlling investment from the Nobel Sustainability Fund® will provide Propelair with the capital to become the market-leading water-efficient toilet globally in the next few years. This investment also supports our wider dedication to the low-carbon economy needed to reach the UK target of Net Zero by 2050, which must happen at speed and scale in this decisive decade.”
David Hollander, CEO of Propelair said: “This further funding from Earth Capital will not only facilitate the next stage in our development to make a big, positive difference to people and institutions in water-stressed regions, it also underlines the progress we’ve made over two years in a very challenging business climate. The huge response to our technology in that period gives us great confidence.”
