Investment update from Alert Technology Ltd
- Date: Thursday 1st December 2016
Alert 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.
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
The 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."