April 5, 2023
Evove closes £5.7 million funding round to accelerate growth and scale-up of the next generation of filtration membranes
Evove receive support from At One Ventures and AM Ventures. Funding will support them to help end-users solve some of the world’s biggest water and energy challenges.
Evove accelerating growth and scale-up of the next generation of filtration membranes
- At One Ventures from Silicon Valley and AM Ventures from Germany join existing investors to fuel growth
- Funding will enable the organisation to expand manufacturing capacity, scale up its 3D printed membrane process and capitalise on its substantial pipeline of opportunities
- Company will focus on key products and customer base established in lithium extraction, food & beverage, desalination, ultrapure water and water reuse
Daresbury (United Kingdom) – UK technology business Evove has today announced the completion of a funding round of £5.7 million. Capital was injected by existing investors and two new international specialist investors from climate-tech and additive manufacturing venture funds, alongside continued support from existing investors.
The round was led by At One Ventures, backers of high growth companies using disruptive deep tech to upend the unit economics of established and emerging industries while dramatically reducing their planetary footprint.
A strong track record in delivering growth
Helen Lin, Partner at At One Ventures, said:
To fully transition to a net zero economy, we need to increase lithium supply and enable green hydrogen production. We believe in Evove’s ability to transform these sectors due to the strength of not just its technology but the team. They have a strong track record in delivering growth and investor returns, as well as a passion for creating scalable industrial solutions.
Funding to increase manufacturing capacity
Chris Wyres, CEO of Evove Ltd, said:
We are thrilled to have received support from At One Ventures and AM Ventures in addition to further investment from our existing investors. This funding will enable us to increase manufacturing capacity and expand our service and support network, enabling us to help end-users solve some of the world’s biggest water and energy challenges.
Evove is a prime example of how additive manufacturing can transform our world
Johann Oberhofer, Managing Partner at AM Ventures, said, “We are convinced that Evove is a prime example of how additive manufacturing can transform our world and significantly reduce CO2 emissions in many areas. We back trailblazing entrepreneurs in 3D printing and Evove are at the forefront of precision engineered filtration membranes that will significantly disrupt the status quo in their markets.”
Establishing new manufacturing facilities in the north-west of England will create high-value jobs and economic growth in the region. Evove’s innovative membrane technology has a significant impact in a number of industries, including lithium, desalination, food & beverage, green hydrogen, semiconductor manufacturing and water reuse. Evove has already deployed its solutions across a broad range of applications, driving down energy consumption, saving precious water and helping build supply-chain resilience.
Evove’s technology has major applications in multiple global markets
Andrew Greenaway, Chairman of Evove, said:
This is an exciting time for Evove, we are grateful for the continued support of our existing investors and delighted to welcome two such highly regarded new investors to the company who bring significant experience of backing high growth technology businesses. Evove’s technology has major applications in multiple global markets where the company already has a significant revenue pipeline working with end user development partners and I look forward to the next stage of the company’s development with confidence.
Evove Ltd was advised on this transaction by Shoosmiths Leeds (legal). At One Ventures were advised by Withers (legal).
Evove Ltd
Evove is a fast-growing technology business with a portfolio of technologies that reduce the cost and environmental impact of the filtration and separation of fluids in a variety of sectors. The company’s Enhance technologies harness graphene oxide based coatings and a variety of 3D-printed enhancements to boost the performance of conventional membranes. Separonics® are Evove’s precision-engineered membranes, providing transformational productivity gains in selectivity and flux, operational efficiency, energy consumption and equipment lifetime.
About At One Ventures
At One Ventures invests in deep-tech startups catalyzing a world where humanity is a net positive to nature. The firm is highly technical and was founded by Tom Chi, former Head of Experience and founding member at Google X. At One Ventures finds, funds, and grows companies that are using disruptive deep tech to upend the unit economics of established industries while dramatically reducing their planetary footprint. To date, At One Ventures has invested in 32 startups, including Ascend Elements, Dendra Systems, Gradient, Apis Cor, Dalan Animal Health, and Cruz Foam. For more information, please visit their website: https://www.atoneventures.com/.
About AM Ventures
The leading venture capital fund in industrial 3D printing (additive manufacturing, AM) has backed 20+ successful companies in 7 countries on 3 continents. The team possesses in-depth technology know-how and is well connected with the most experienced experts in the field. As an investment partner, the company provides a globally leading ecosystem of sustainable investments in AM and introduces entrepreneurs to a large pool of industry veterans, each one with decades of experience in engineering, manufacturing and executive management. www.amventures.com
