Acoustic Sensing Technology (AST), a spin-out that’s commercialising acoustic technology developed at the UK’s University of Bradford, has received £650k ($979k) from The North West Fund.
AST will use the investment to bring to market its SewerBatt, developed at Bradford, which is a low cost acoustic product that assesses the condition of sewer pipes. The firm plans to sell the product to companies and contractors in European, American, and Australian markets. AST will also be opening a new office in Cheshire, UK.
Made through The North West Fund for Energy & Environmental, it is the fund’s first investment in the water industry. The fund is financed jointly by the European Regional Development Fund and the European Investment Bank, and managed by CT Investment Partners.
Nick Hawkins, chief executive of AST, said: Mr “It has been a pleasure working with The North West Fund and CT Investment Partners and we are delighted to have them on board. The funding will enable us to refine our existing product and bring more products to market over the next few years in the acoustic, water and other related fields.”
