Investment update from Alert Technology Ltd

Investment update from Alert Technology Ltd
  • Date: Thursday 1st December 2016

Alert to proceed with private investment syndicate following close of Crowdcube campaign.

We wanted to say a massive “Thank you” to everyone who has followed our progress, asked questions and pledged your hard earned money to our crowd funding campaign. We sincerely appreciate your support.
 
It is with great pleasure that I can now announce following the close of our Crowdcube campaign today that we will initiate a smaller, private investment syndicate to close in mid-December. This new syndicate will include our Institutional Investor, our production partner, ourselves and other private investors which will allow us to proceed with our plans in January 2017.
 
Key Successes:-
Signed Investment Agreement to proceed with £500k from our key institutional investors, Narec Capital Ltd following completion of due diligence
A pledge of  substantial ‘in-kind investment’ in return for equity from our production partners
Commitment from a number of Alert’s personal contacts to remain committed as future investors and shareholders in ALERT
Offers from future customers to “invest by stealth” through contribution to the build cost of the first 25 units
Received Advanced Assurance from HMRC for EIS Tax Relief  
Strong commercial leads received from the Contamination Expo
Received a ‘New Product Innovation Award’
Positive feedback from the Crowd
Great PR and support from our Trade Association partners
 
If you wish to be a part of our future we welcome you to get in touch directly: alan@asbestos-alert.com / loretta@asbestos-alert.com.
 
Information on the new syndicate will be available in the coming days to those who respond.Alert Technology Ltd to proceed with private investment syndicate following close of Crowdcube campaign.

As Alert Technology ends its crowdfunding campaign short of hitting it's target, the company can confirm it will be proceeding with a private investment syndicate with a first close in mid-December.

The new syndicate will include Alert's institutional investor Narec Capital Ltd; production partners, Bay Photonics; Alert's Directors and other private investors.

Investment provided by the new syndicate will allow Alert to proceed in January 2017 with their plans to:

  • Produce 25 sample units for further robust field trials with pre-existing contacts;
  • Recruitment of key staff; 
  • Further miniaturization of electronics 
  • Improve functionality and manufacturability of key elements

Directors of ALERTThe Directors of Alert (pictured from left to right: Reid Archer, Alan Archer and Loretta King) have expressed their appreciation and thanks to everyone who pledged money and followed the company's Crowdcube campaign especially as many have expressed their desire to remain involved and invest as a part of the new syndicate.

Loretta King, Marketing Director of Alert said, "It was unfortunate that 'the crowd' didn't provide the financial vehicle alongside our institutional investor to help accelerate ALERT’s market launch."

"We were confident ALERT's uniqueness and life-saving benefits would appeal to the crowd. However it appears that unlike the steady stream of apps and beers that regularly get funded on Crowdcube, the Asbestos ALERT was just a little too far removed from the everyday life of the average crowd investor."

MD of Alert, Alan Archer says, "the Asbestos ALERT is a serious investment - it offers a real time warning solution for what is the world's largest occupational killer and it presents a strong commercial opportunity with market demand from 30+ different industry sectors around the world. ALERT is the only device of its kind that is capable of warning users in real time of the presence of airborne asbestos and with our new private syndicate we will continue with our plans."

If you have an interest in investing in Alert Technology and would like more information or a copy of our business plan, please contact Alan Archer directly at: alan@asbestos-alert.com.

 

 

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