Investment in Cascade
Braveheart Investment Group plc
10 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 investment
management company, announces that it has participated in a third round of
financing for Stirling based Cascade Technologies Ltd ('Cascade'). This round of
funding raised c. £1 million via a placing of new ordinary shares. Other
investors in the round include PUK Ventures, Bank of Scotland Corporate and
Scottish Enterprise's Scottish Co-investment Fund.
Cascade was incorporated in 2003 to commericalise research from the University
of Strathclyde. In 2004 it launched its range of laser systems and a gas sensor
prototype, leading on to the production of its micro sensor in 2005. These
lasers and sensors have a number of applications in the environmental and
security markets. Prototypes have already been brought to market successfully.
Last year Cascade saw positive developments within both its environmental and
security products that have enhanced its future sales potential. Its 'Continuous
Emissions Monitoring' technology surpassed rigorous legislation requirements and
secured a number of new sales contracts. In addition successful trials for its
security sensors with the Home Office and MOD were completed. The success of
these trials has substantially enhanced the routes to commercialisation for
Cascade in Europe and the US.
Cascade has already demonstrated traction with its client base and sales are
predicted to reach c. £4 million in the next financial year. The new round of
funding is designed to support Cascade's sales and marketing efforts whilst it
builds its order book.
Commenting on the investment, Geoffrey Thomson, Chief Executive of Braveheart
said; 'We are delighted to be continuing our support of Cascade with this, the
next stage of funding to support the Company's sales and marketing drive.
Cascade has developed pioneering sensor technology which has tremendous scope to
create strong sales across Europe and further afield.'
Iain Howieson, CEO of Cascade, said; 'Cascade is in an exciting position to
capitalise on the recent developments in trialing its technology and we are
delighted to have sustained backing from our core investors. We look forward to
taking 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 Hudson
Tel: 01738 587555 Tel: 020 7920 3150
gthomson@braveheart-ventures.co.uk ccarr@tavistock.co.uk
Cascade Technologies Bank of Scotland Corporate
Iain Howieson, Chief Executive Steven Green
Tel: 01786 447721 Tel: 0131 659 0889
i.howieson@cascade-technologies.com Stephen_Green@bankofscotland.co.uk
PUK Ventures Scottish Co-Investment Fund
Puneet Bhatia Andrea Young/Andrew Sloane
Tel: 020 7273 8365 0141 228 2468/2787
puneet.bhatia@pukventures.com Andrea.Young@scotent.co.uk/
Andrew.Sloane@scotent.co.uk
Notes to Editors
Braveheart was formed in 1997 by four Scottish businessmen as a co-investment
vehicle in order to pool their money and knowledge, increase diversification and
also reduce risk.
It makes investments in young, emerging, unlisted companies where there is
potential for significant growth, through the successful commercialisation of
their IP. Typically, Braveheart's investments are focused on British companies
with potential global technology solutions. However, the Group also maintains
limited exposure to more traditional businesses.
Braveheart's portfolio ranges from start-up companies to businesses which are
close to an IPO or sale. Each year out of several hundred business plans
received, around ten investments are made, all of which demonstrate attractive
exit potential. These opportunities emanate from Braveheart's network of
contacts, which includes the Group's own clients, and close relationships with
science parks and universities. Braveheart has formal relationships with seven
universities and two business parks, giving it unique access to IP and start-up
companies emanating from them.
This information is provided by RNS
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