Insider Media Limited

Who?

Birmingham company Aeristech, a developer of turbocharger technology which enhances fuel efficiency in vehicle engines while reducing emissions.

Did what?

Has secured £500,000 with help from Oxford Investment Opportunity Network (OION), Europe’s leading technology investment network.

What does this mean?

The round was led by Midven, which invested alongside Minerva Business Angels Network and members of the OION Network. Aeristech will use the new funding to progress testing programmes with two global vehicle manufacturers. Bryn Richards, chief executive of Aeristech, said: “The motor industry is now seeking to bring the highest efficiency, lowest cost turbo systems into its supply chain and it is forecast that by 2014 around 75 per cent of all European light vehicles will be boosted by turbo technology. Our objective is to capture a 10 per cent share of this market over the longer term.”

Insider comment:

Green industries have been identified by the government as an area where the UK can develop world-leading technology, and automotive is a sector in which our manufacturers excel and green innovation is vital.

It’s little surprise that new technology which cuts the carbon emissions in engines would be a popular investment, particularly with Carbon Trust backing, awards under its belt and a prototype that has already won praise.

Eileen Modral, OION Network investment manager, said the round was oversubscribed, further indication that the investment looks like a safe bet.