NetScientific PLC (AIM:NSCI) has noted that subsidiary EMV Capital has led and advised on a £2.5mln investment round in domestic heat efficiency champion Ventive, resulting in it taking a roughly 16% equity stake.
EMV Capital is a deep tech and venture capital specialist and the deal, which involves equity and debt investments of £600,000 from members of EMV Capital's network, will see the restructuring of £1mln of Ventive’s historical debt plus will also release a £1.5mln UK business grant.
Ventive designs and manufactures heat pumps that provide integrated ventilation, renewable heating and hot water with summer cooling.
The heat pumps arrive pre-plumbed and pre-configured, NetScientific added, including monitoring and energy storage with new build and retrofit applications.
Ventive has partnered with QM Systems, a subsidiary of AIM-quoted PipeHawk PLC (AIM:PIP), to scale up production.
Ilian Iliev, NetScientific’s chief executive, added: "This is a perfect example of our differentiated business model and pro-active investment strategy in action.
“We help businesses in high-impact sectors, like Ventive, to access capital to facilitate the commercialization of their innovative technologies and internationalise early.”