Bug buster aims for £600k funding as its ship comes in
Cambridge UK bug busting technology specialist Bactest is bidding to raise around £600k from VC and angel sources to underpin accelerated growth of the business to help fuel major demand.
Bactest’s anti-contamination technology is riding a wave of interest in the marine sector.
Speedy Breedy, the world’s most sensitive, versatile and portable contamination test will now be sold under a global exclusive distribution agreement with Goltens into the ballast water testing Market.
It will be used by manufacturers, port state authorities and ultimately the US Coast Guard.
In anticipation of ratification of the IMO Ballast Water Convention, over 2,000 ships have installed BWTS and Speedy Breedy is the only instrument on the market that can be used on ships or in port to test for compliance with the IMO standard for the three bacteria set out in the standard: Vibrio Cholera, E.Coli and Enterococci.
Over the next few years up to 90,000 ships will be mandated to comply with IMO regulations.
The US has already introduced legislation via its Clean Water Act where new built ships are required to install BWMS.
Bactest CEO Professor Annie Brooking said: “We are absolutely delighted to be working with Goltens. They have an impressive track record of retrofitting BWTS and indeed lead the market in this field. Bactest will benefit hugely from their global sales infrastructure and marketing strength.”
Goltens Rotterdam managing director Maarten Jeronimus said: “We have been looking for a product like Speedy Breedy for some time to complement our BWTS business. Speedy Breedy is quite unique. We will be actively promoting Speedy Breedy to both our customers and colleagues in the maritime Industry.”