Country for PR: United Kingdom
Contributor: PR Newswire Europe
Thursday, July 23 2020 - 08:00
Cleantech Firm FuelActive Primed For Growth After Securing Investments, Technology Grant Funding and Leadership Changes
TAFF'S WELL, Wales, July 23, 2020 /PRNewswire-AsiaNet/ --

FuelActive, renowned for its innovative technology solutions for diesel engines 
announces new investment from the Development Bank of Wales and private equity 
funds from Adjuvo; grant funding from Innovate UK to support technology 
development; and leadership changes to drive global expansion.

FuelActive’s innovative fuel pick-up unit is disrupting the diesel engine and 
equipment industry, where operators are experiencing incremental costs due to 
increased maintenance, reduced operating efficiency and breakdowns, which are 
caused by contaminated fuel. The unit is proven through numerous trials and is 
in operation with major players such as Caterpillar, Komatsu, Atlas Copco and 
Volvo. Patent protected in all major markets; it delivers the cleanest fuel 
available in the tank to the engine fuel system.  

FuelActive's revolutionary technology ensures the cleanest fuel available is 
supplied to the fuel lines of diesel engines and is the first line of 
protection against contaminated diesel; a global issue with catastrophic 
consequences. Benefits to operators include the elimination of fuel-related 
breakdowns, reduction in accelerated maintenance costs and extended injector 
life. When fitted from new, an engine stays closer to its specified performance 
for longer and is more reliable. Burning cleaner diesel reduces toxic engine 
emissions, supporting compliance with clean air regulations.  

Equity investment of Pounds 500,000 comes from new institutional investor, the 
Development Bank of Wales. Richard Thompson and Andrew Critchley from their 
specialist tech ventures team said: "FuelActive has the potential of creating a 
global cleantech success story. Its ability to positively influence the 
performance of diesel engines, which will be in use for the next 30 years, 
could have a real impact on the environment. This is our first co-investment 
with the Adjuvo network who enhance FuelActive's position. We look forward to 
working with Nick Massey and the FuelActive team, and to further co-investments 
with Adjuvo."

Private equity investment syndicate Adjuvo, which initially invested in 
FuelActive during 2016, has contributed a further investment of Pounds 
750,000.  Adjuvo identifies high growth opportunities that benefit from a 
network of experienced investors who provide advice and commercial 
introductions within their wide networks. Commenting on the significance of 
their investment, Mark Foster-Brown, CEO of Adjuvo, said: "FuelActive is now 
well positioned to realise its full potential with new capital, a major 
technology evolution imminent and with strengthened leadership."

FuelActive was recently successful in its bid to win an Innovate UK Smart Grant 
for a project value of Pounds 500,000. The grant award will evolve the current 
technology to add digital capability. Smart Grants are awarded to businesses 
which deliver ambitious or disruptive innovations that can make a significant 
impact on the UK economy and beyond.

Along with this investment, Nick Massey becomes CEO, with Martin Leahy taking 
on the new role of Vice-Chairman.

Nick is a versatile leader with a track record of delivering growth within 
private equity and publicly traded environments. His background includes 
private equity stints for Goldman Sachs, with Coca-Cola and PA Consulting 
Group. "I'm honoured to be joining FuelActive with the backing of the 
Development Bank of Wales and Adjuvo investors. The problems of fuel 
contamination are universal and FuelActive's technology can help operators 
mitigate the costs, capture upside in capital efficiency and contribute to our 
right to clean air," said Nick Massey, CEO, FuelActive.

FuelActive began in 1998 through the vision of Founder Mike James, an engineer 
for over 40 years. After designing a proven solution to fuel contamination, an 
extensive period of R&D followed in conjunction with Universities, Government 
funding and investment from Adjuvo.  

Located in Taff's Well, near Cardiff in Wales, FuelActive HQ consists of 
offices, production/warehouse facilities, and a Technology Centre. FuelActive 
operates internationally through Distributors and Sales Agents located in key 
markets. The FuelActive pick-up unit is in use today across the globe, 
supporting the following sectors: Construction, Mining, Marine, Military, Power 
Generation, Agriculture and Transportation. 


Source: FuelActive