10th Apr 2008 07:00
Braveheart Investment Group plc10 April 2008 For release, 07.00, 10 April 2008 Braveheart Investment Group plc ("Braveheart" or the "Group") Further Investment in Cascade Technologies Ltd Braveheart (AIM: BRH), the technology commercialisation and investmentmanagement company, announces that it has participated in a third round offinancing for Stirling based Cascade Technologies Ltd ("Cascade"). This round offunding raised c. £1 million via a placing of new ordinary shares. Otherinvestors in the round include PUK Ventures, Bank of Scotland Corporate andScottish Enterprise's Scottish Co-investment Fund. Cascade was incorporated in 2003 to commericalise research from the Universityof Strathclyde. In 2004 it launched its range of laser systems and a gas sensorprototype, leading on to the production of its micro sensor in 2005. Theselasers and sensors have a number of applications in the environmental andsecurity markets. Prototypes have already been brought to market successfully. Last year Cascade saw positive developments within both its environmental andsecurity products that have enhanced its future sales potential. Its 'ContinuousEmissions Monitoring' technology surpassed rigorous legislation requirements andsecured a number of new sales contracts. In addition successful trials for itssecurity sensors with the Home Office and MOD were completed. The success ofthese trials has substantially enhanced the routes to commercialisation forCascade in Europe and the US. Cascade has already demonstrated traction with its client base and sales arepredicted to reach c. £4 million in the next financial year. The new round offunding is designed to support Cascade's sales and marketing efforts whilst itbuilds its order book. Commenting on the investment, Geoffrey Thomson, Chief Executive of Braveheartsaid; "We are delighted to be continuing our support of Cascade with this, thenext stage of funding to support the Company's sales and marketing drive.Cascade has developed pioneering sensor technology which has tremendous scope tocreate strong sales across Europe and further afield." Iain Howieson, CEO of Cascade, said; "Cascade is in an exciting position tocapitalise on the recent developments in trialing its technology and we aredelighted to have sustained backing from our core investors. We look forward totaking more of our products to market, and increasing our sales pipeline." For further information please visit www.braveheart-ventures.co.uk or contact: Braveheart Investment Group Tavistock Communications (for Braveheart)Geoffrey Thomson, Chief Executive Clemmie Carr / Simon HudsonTel: 01738 587555 Tel: 020 7920 [email protected] [email protected] Cascade Technologies Bank of Scotland CorporateIain Howieson, Chief Executive Steven GreenTel: 01786 447721 Tel: 0131 659 [email protected] [email protected] PUK Ventures Scottish Co-Investment FundPuneet Bhatia Andrea Young/Andrew SloaneTel: 020 7273 8365 0141 228 2468/[email protected] [email protected]/ [email protected] Notes to Editors Braveheart was formed in 1997 by four Scottish businessmen as a co-investmentvehicle in order to pool their money and knowledge, increase diversification andalso reduce risk. It makes investments in young, emerging, unlisted companies where there ispotential for significant growth, through the successful commercialisation oftheir IP. Typically, Braveheart's investments are focused on British companieswith potential global technology solutions. However, the Group also maintainslimited exposure to more traditional businesses. Braveheart's portfolio ranges from start-up companies to businesses which areclose to an IPO or sale. Each year out of several hundred business plansreceived, around ten investments are made, all of which demonstrate attractiveexit potential. These opportunities emanate from Braveheart's network ofcontacts, which includes the Group's own clients, and close relationships withscience parks and universities. Braveheart has formal relationships with sevenuniversities and two business parks, giving it unique access to IP and start-upcompanies emanating from them. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Braveheart Investments