Press release - HydroVenturi wins Shell SpringBoard Award - 26/02/07
HydroVenturi Wins Prestigious Awardfor Hydropower Technology
HydroVenturi wins £40 000 award from Shell
26 February 2007 - Porton Capital Ltd is pleased to announce that HydroVenturi Ltd has won a Shell Springboard award for ‘Innovation in Addressing Climate Change’ and has won a £40 000 prize.
The award was presented in London on 21st February 2007 at a ceremony for the UK’s South finalists.
HydroVenturi impressed judges with innovative new technology that will make harnessing hydro-electricity much more efficient and cost-effective. Their design is set to revolutionise the industry, making hydropower more accessible than ever before.
Nigel Stokes, Chief Executive, HydroVenturi, said: “We’re delighted to receive this award. The recognition it provides us with is enormously helpful as our groundbreaking technology reaches its commercial stage.”
“This novel technology can generate significant amounts of electricity in an environmentally benign way and at reasonable cost, so it provides huge opportunities for the UK’s renewable energy market.”
The Shell Springboard award provides a financial boost to a small number of UK businesses that submit the most compelling business plan for a product or service which will lead to greenhouse gas reductions, is commercially viable and is innovative.
Judging of the eleven regional finalists was carried out by a panel of independent experts who were looking for ideas that not only had potential to break new ground, but also had sound financial planning and market insight.
HydroVenturi will now compete against the winners in the North and Central regions to be named as the UK overall winner in London on the 6th of March 2007.
Shimi Shah, Director, Porton Capital Ltd, said, “This award is representative of the pioneering advances being made by HydroVenturi. The company is on the verge of some exciting breakthroughs and Porton Capital looks forward to continuing our excellent relationship with them.”
James Smith, Chairman of Shell UK said, “Businesses, both large and small, can help tackle climate change, but sometimes a lack of funds for developing a great idea can be a problem for small businesses. That’s why we set up Shell Springboard to encourage and reward companies with innovative ideas that are not only good for the environment
but also good for business. “
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Notes to Editors
About Porton Capital
Porton Capital Limited (PCL) is a successful offshore financial management company specialising in forming and managing investment funds, which provide development capital for technology and commercialisation ventures. PCL acts as venture financier to these technology spin-outs, which are formed in close partnership with some of the UK’s leading public sector research establishments and universities, such as Imperial College. PCL has been instrumental in raising substantial capital for revolutionary emerging technologies with worldwide market potential.
Media Contacts:
UK Elizabeth Martens Tel: +44 207 802 5515 elizabeth.martens@synergistechnologies.com
Hong Kong Michelle Rooney Tel: +852 2119 8702 michelle.rooney@portoncapital.com
About HydroVenturi
HydroVenturi is a privately funded company engaged in the design and construction of environmentally friendly hydro energy installations. Its unique patented technology generates power cleanly and efficiently, with low running costs and negligible impact on local ecology. The system can be used in thousands of locations that were previously considered impractical for the production of hydroelectric power. HydroVenturi spun out of one of Europe's top universities, Imperial College, in 1999 and is headquartered in London. In early 2005 HydroVenturi secured £2.5 million in first round funding
from Porton Capital Ltd.
For more information visit www.hydroventuri.com
Contacts:
CEO Nigel Stokes, Hydroventuri Tel: +44 207 594 3502 nstokes@hydroventuri.com
Media Elizabeth Martens Tel: +44 207 802 5515 elizabeth.martens@synergistechnologies.com
About Shell Springboard
1. Up to six awards of between £20,000 and £40,000 are on offer in each of 3 UK regions:
North (Scotland, Northern Ireland and Northern England)
Central (Central England andWales)
South (Southern England and East Anglia)
2. The number and quality of entries will determine the number of awards given. Each region has a maximum number of awards it can give, but no minimum. Last year there were nine awards made.
3. Shell Springboard aims to be a catalyst for those people who through innovative ideas and businesses are trying to seize the commercial opportunities presented by climate change. Shell believes that is through encouraging and harnessing the energy of business that society will make the faster progress in tackling climate change.
4. Shell Springboard is part of Shell’s Social Investment activities in the UK. Other programmes include Shell Livewire, Shell Step and Shell Education Service. For further information, visit www.shell.co.uk/socialinvestment
The Shell Education Service seeks to inspire tens of thousands of children each year, encouraging them to explore and question science through hands-on investigations. A programme of workshops reaches some 50,000 children as expert workshop leaders travel to 600 primary schools across the country each year.
Shell Livewire’s mission is to help unearth and support the young entrepreneurs of today who will create the jobs, wealth and innovations of tomorrow. Shell Livewire do this through marrying peer to peer inspiration and encouragement with practical nuts and bolts help that can only come from business people who understand the challenges of building a business.
Shell Step is a direct response to the challenge that faces tens of thousands of UK graduates when they move from the world of study into employment. The programme gives hundreds of students each year relevant and meaningful experience of the world of work and is the UK’s leading creator of tailored placements for students in small and medium-sized businesses.
Press Release - HydroVenturi appoints new Executive Chairman - 14/12/06
Appointment of Executive Chairman to HydroVenturi LtdHydroVenturi Ltd is pleased to announce the appointment of Harvey West as Executive Chairman. Harvey West brings many years’ experience of working in energy markets at both a national and international level to the company, having grown a number of businesses into major renewable companies whilst securing significant value for shareholders. His previous roles include Chief Executive of Acciona Energia UK and main board director of both United Utilities Green Energy and Hyder Industrial. In addition to his strong commercial experience in the global hydro market, he has technical knowledge of this sector which will be ideally suited for the positioning and delivery of HydroVenturi’s technology.
Harvey West, Executive Chairman, HydroVenturi said:
“Given the views of the International Energy Agency on the dominant role low-head hydro-technologies will play in the future global energy mix in both land-based and offshore applications, now is a good time to be driving forward a business such as HydroVenturi. I believe we have the potential to be a truly world class company and am very much looking forward to working with our team to establish and secure a market-leading position for our business.”
For more information contact:
HydroVenturi Ltd
Jenny de Navarro Jones
+44 (0)20 7594 3503
Notes to Editors
About HydroVenturi
HydroVenturi is a developer of novel hydropower systems that improve upon existing technology, which is widely considered to be non-viable for ultra low head sites. The use of HydroVenturi’s innovative methods makes feasible the development of many potential sites that have previously been judged uneconomic.
Porton Capital committed to invest £2.5m in HydroVenturi in March 2005, subject to technical and commercial milestones. Porton Capital is a financial management company focusing on the distribution and management of sophisticated investor funds. Porton Capital provides development capital for technology commercialisation entities, focusing on private equity investment management, promotion of technology commercialisation funds and corporate finance advice in relation to technology ventures.
The company has built and optimised a demonstrator plant on the river Derwent, near Derby. HydroVenturi is based on the research carried out by Dr John Hassard and Dr Geoff Rochester of Imperial College London and was founded by them with assistance from Imperial Innovations in 1999.
Press Release - Porton Capital - 03/04/05
HydroVenturi is designing and testing new systems for generating sustainable, environmentally friendly, renewable energy. Using no moving parts under water, HydroVenturi's system can generate energy from river and tidal water flow in as little as 2 metres of water. Originating from Imperial College, London, the HydroVenturi system is in trials now and preparing for commercial installations.