ChargePointTechnology – a Merseyside manufacturer of precision containment valves – is set to create over 15 new jobs following a £1.63m investment from Enterprise Ventures.
The deal includes the first investment by The North West Fund for Mezzanine, which has provided £900,000 to enable ChargePoint to recruit additional staff and develop new products for export. Enterprise Ventures has also invested £725,000 from the Coalfields Funds.
ChargePoint’s containment valves – precision split butterfly valves – help with transferring powders from one vessel to another during the production process. By minimising dust emissions, they are specified to prevent cross-contamination and protect operators from exposure to potent substances.
The North West Fund for Mezzanine, launched earlier this year, provides investment of £750,000 to £2m for established businesses seeking finance for growth. It is part of the £155m North West Fund, which is funded by the European Regional Development Fund and the European Investment Bank.