E-Synergy, which specialises in backing early-stage technology companies, made the investment from its Sustainable Technology Fund.
Morgan Everett’s PyroPure system reduces plastic and biodegradable waste to an ash that can be flushed into the sewage system. The company is led by chief executive Ted Brown, previously COO of Rentokil Initial.
Brown says: ‘The core technology is proven, so this initial funding is targeted at further technological development including recruiting more design engineers and building prototypes for customer field trials. Our short-term focus is about hitting these development milestones.’
This is the second investment by E-Synergy’s Sustainable Technology Fund since its launch earlier this year, when it announced its backing of refrigeration specialist Earthcare Products. The fund has assets of £30 million, and can make investments of up to £2 million in British entrepreneurs and companies developing ‘clean’ industrial processes.
Hampshire-based Morgan Everett was set up by chartered engineer Howard Clarke, now the company’s CTO, and COO Sue Clarke. In addition to its waste technologies it has developed devices for medical use, including a machine that disposes of hypodermic needles.