Dearman receives multi million pound investment to support development of clean cold and power technology

Dearman announced that Park Vale Capital has committed to invest £16 million in the business. This brings the total funds raised by Dearman during 2015 to £19.5 million (excluding grant funding), and will allow the company to bring the first application of its technology to market.  It will also enable Dearman to establish initial UK-based manufacturing activity, and to achieve widespread international commercial deployment, while continuing to invest in R&D and demonstration of its core technology and subsequent applications.

As a global investor with an established presence in Europe, the USA and Asia, along with expertise in the bio-medical, cyber technology and real estate sectors, Park Vale will work in partnership with Dearman, helping it to establish new markets for its technology, identify opportunities for growth and realise them.

Discussing the announcement, Katherine Priestley, Managing Director of Park Vale said: “Dearman is an extremely exciting company that is developing unique technology to address a clear global need - clean cold. Although the applications of Dearman technology will bring demonstrable environmental benefits, it is the fact that they are also commercially attractive and even operationally superior that makes the company so promising. We look forward to working closely with the Dearman team to help maximise the impact of their innovation and the value we can create together.”

Toby Peters, Chief Executive of Dearman said: “To have partnership of this scale, from a company as respected as Park Vale, is a recognition of the potential of our technology, the quality of our team and the rapid progress we have made to date. We have a vision to utilise innovative clean cold and power technology to address global environmental challenges, while delivering economic returns for our shareholders and growth in the communities where we operate.  With the support of all our investors I am confident that we can achieve and even exceed that goal.”

The latest round of investment includes continued backing from a broad range of investors, notably including Transmark N.V., who have provided substantial investment to date and continue to be actively involved in the future of the business.