AsiaNet 84874

TAFF'S WELL, Wales, July 23, 2020 /PRNewswire=KYODO JBN/ --

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.  www.fuelactive.com

Logo: https://mma.prnewswire.com/media/1218144/FuelActive_Logo.jpg  

Photo: https://mma.prnewswire.com/media/1218145/FuelActive.jpg

Source: FuelActive