NEWS3 Mar 2024 18:51
Assume we will get an update on the Heat Pump prior to the start of Future build on Tuesday?
Ventive is back showing our full suite of Building Services products: Intelligent Ventilation, Heating and Cooling solutions that autonomously react to the environment - creating comfort without costing the Earth.
We will be unveiling our latest all-in-one Heat Pump, following years of development and welcome you to come and meet the team behind this innovative technology.
From last years fundraise.
The proceeds of the Investment will support the completion of the design and test phase and factory build for Ventive's modular heat pumps, further enhancements to its passive air ventilation product range, and build-up of its marketing and sales capacity to drive sales of its existing product range. The Ventive balance sheet is also streamlined following the conversion of the convertible loans.
Following completion of the Investment, the total equity holding of the NetScientific group in Ventive is 11.0% on a fully diluted basis, which includes the partial settlement of its corporate finance fees relating to the Investment. This holding equates to a post-investment fair value of GBP893,000, a substantial increase of 1,617% from the GBP52,000 reported as at 31 December 2022. In addition, following the introduction of investors to Ventive by EMV Capital under its capital efficient model, NetScientific's capital under advisory with Ventive is now 23.8% of the fully diluted share capital.
Ventive designs and manufactures intelligent heating and ventilation solutions to make buildings healthy, comfortable, efficient, and affordable. Its products address two high priority markets segments: air quality and sustainable heating.
Ventive's passive air ventilation system has been delivered to over 30 schools and five leisure centres, achieving excellent air quality results. Its novel heat pump product, which is in advanced stages of development, is a comprehensive solution for residential applications, with a unique modular design and a novel thermal store. Momentum for the business is underpinned by significant regulatory changes, increasing energy prices, and climate change policies.