24th October 2005
EKB Technology raises First Round Investment of £325,000
EKB Technology Ltd, provider of a completely new and patent pending bioprocessing technology, has been successful in raising £325,000 from the Oxford Technology 4 Venture Capital Trust.
The company’s unique bioprocessing technology, developed at the University of Oxford, could revolutionise the production of high value chemicals such as advanced pharmaceutical intermediates, flavours and fragrances, a £16 billion industry worldwide. The technology can be used to manufacture products that are difficult or impossible to produce using traditional technologies. It has clearly demonstrated the potential to reduce waste, cost, time, and the use of hazardous solvents.
Dr Michael Wright, Managing Director of EKB Technology Ltd, explained:
“Bioprocessing is the use of biological catalysts, such as enzymes or bacteria, for production of chemicals. Biocatalysts are increasingly useful to industry as an alternative to chemical catalysts because they are more specific and do not require high pressures and temperatures to work.
The EKB technology overcomes the longstanding problem that the chemical products of biocatalysts are too dilute, and so need a lot of resources to concentrate and purify the final product. The EKB technology applies an electric current to the reactor in which the bioprocessing is taking place, pulling the product through a highly selective membrane into its own chamber, removing it from the reaction chamber. This immediately produces a concentrated, pure version of the final product, and has the added advantage of taking the product out of the way of the biocatalyst so that the efficiency of the ongoing reaction remains high.
The technology is based on work funded by a DTI Link Biocatalysis grant awarded to the University of Oxford and developed in conjunction with C-Tech Innovation Ltd. EKB Technology Ltd was founded by the lead researchers, Professor Chris Knowles and Dr Simon Jackman in Oxford’s Department of Earth Sciences, C-Tech, and Isis Innovation, the technology transfer company of the University of Oxford. We are making bioprocessing a more viable and a new greener way to manufacture the chemicals we need.”
Dr Wright praised Oxford Technology 4 Venture Capital Trust:
“We are delighted with our successful fundraising. Oxford Technology 4 VCT is very supportive of our aspirations and the capital that they have provided will be used to accelerate the development of our technology and speed our progress to market through strengthening of our product development team and to increase our business development activities including a greater concentration on developing overseas opportunities.”
Lucius Cary, founder and managing director of Seed Capital Ltd and Investment Manager to Oxford Technology 4 VCT, said:
“We are delighted to be investors in EKB and will be actively involved to help the company to develop. We consider the technology has significant commercial potential.”
Notes for Editors
EKB Technology Ltd
Press enquiries to: Dr Michael Wright, Managing Director
Phone: 07952 225583 E-mail: mike.wright@ekbtechnology.com http://www.ekbtechnology.com
The EKB technology is based on the work of a research group in Oxford’s Earth Sciences Department led by Professor Chris Knowles and Dr Simon Jackman. Research workers included Dr Hong Li and Dr Roberta Mustacchi. The EKB Technology was developed in conjunction with C-Tech Innovation, a company which helps commercialise and research innovative products and processes (www.ctechinnovation.com).
Seed Capital Ltd, Investment Managers to Oxford Technology 4 VCT
Press enquiries to: Lucius Cary, Managing Director
Phone: 01865 784466 E-mail: Lucius@oxfordtechnology.com http://www.oxfordtechnology.com