ChargePoint secures investment from Enterprise Ventures
Merseyside manufacturer ChargePoint Technology, which supplies precision containment valves to some of the world’s largest pharmaceutical and chemicals businesses, is set to create around 30 new jobs following investment from Enterprise Ventures.
The deal includes the first investment by The North West Fund for Mezzanine, which has provided funding to enable ChargePoint to recruit additional skilled staff and develop new high tech products for export. Enterprise Ventures has also invested using the Coalfields Funds which it manages on behalf of the UK Government, Communities and Local Government. ChargePoint’s precision split butterfly containment valves provide an accurate and safe means of 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.
Originally developed in 1996 in conjunction with GlaxoSmithKline, ChargePoint valves are now used by almost every major pharmaceutical manufacturer and increasingly in other industries such as chemicals, food and drinks manufacture and consumer goods. Customers include GSK, Pfizer, Henkel, DuPont, INEOS, Johnson & Johnson, Eli Lilly and Sanofi Aventis. ChargePoint employs 45 staff at its manufacturing facility in Speke, Liverpool. It also operates in France, the US and Hong Kong. The company exports approximately 80% of its products and won the Queen’s Award for International Trade in 2012.