Business
Investment in Surface Generation Ltd
Investment in Surface Generation Ltd.
About this update from Truetide Plc
[{"type":"text","content":"\n \nRNS Number : 6907G Braveheart Investment Group plc 17 May 2011 \n \n\n17 May 2011\n \nBraveheart Investment Group plc\nInvestment in Surface Generation Limited\n \nBraveheart Investment Group plc (AIM: BRH) ('Braveheart' or the 'Group'), the AIM-listed specialist in growth capital investments for business angels, high net worth individuals and family offices, announces that Envestors Limited, its wholly owned subsidiary, has closed a £1.4 million fundraising for Surface Generation Limited ('Surface Generation' or 'SG'), the UK developer of advanced composite manufacturing processes. The funds raised through Envestors amounted to £1 million, the remainder being provided by existing shareholders and the management team.\n \nIn 2010 following a presentation by Ben Halford, CEO of Surface Generation, SG raised £425,000 through Envestors in an earlier funding round. Envestors provides a service matching high growth companies with high net worth investors and family offices.\n \nSurface Generation engages in developing reconfigurable pin tooling for component manufacture. Its patented reconfigurable technology overcomes traditional lead time and cost issues associated with large- and short-run component manufacturing by using a hybrid subtractive and additive build strategy to create the front face of the tool, as opposed to the entire solid mould insert. Established in 2002 and based at Oakham, Rutland, SG serves the international automotive andaerospaceindustries. \n \nGeoffrey Thomson, Chief Executive of Braveheart Investment Group, said: \"This investment is typical of the private fundraising an effective business angel network such as Envestors can achieve for promising businesses. As angel investment plays an increasingly important role in UK recovery, Braveheart and its subsidiaries are well placed to make the most of such opportunities.\"\n \nCommenting on the investment, Oliver Woolley Managing Director of Envestors, said: \"Surface Generation is bringing major efficiencies to manufacturing engineering, and this is one reason for the continued progress of this highly innovative British business.\"\n \nMurray Steele, Chairman of Surface Generation, commented: \"The money raised through Envestors, existing shareholders and management will help fund investment in our advan...