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Cutting waste to create jobs
A Cambridge technology consultancy spinout, which could help companies save hundreds of thousands of pounds on their water bills, is planning to double its workforce after moving to South Yorkshire's Advanced Manufacturing Park.
AtraNova has developed technology to clean up contaminated water by using a combination of electrolysis and a titanium-based compound.
It claims its Ebonex technology could reduce the cost of discharging waste water into sewers by between 50 and 80 per cent.
AltraNova is working with businesses from the food, beverage, chemical and textiles industries that pay up to 300,000 a year to water companies for treating their waste water and a number of companies are already using the technology.
The company aims to have its Ebonex technology installed at a dozen businesses by the end of the year and has moved to the Advanced Manufacturing Park as part of its plan to develop and commercialise the technology.
AltraNova chairman Martin Frost said: "We decided to move to South Yorkshire because of the excellent support that is available to businesses and many of our customers are likely to be based within easy reach of Sheffield,"
South Yorkshire Investment Fund (SYIF) is investing 500,000 in the business, which Mr Frost says will help the company to recruit more people to manage the equipment, the installation and provide support to customers.
Mr Frost said: "It will also help AtraNova create new business opportunities from an important manufacturing base.".
AtraNova was spun out of Cambridge technology consultancy Sagentia Group and provides its technology to businesses for free, in return for 50 per cent of the savings the businesses make.
Mr Frost said: "Installing the product in this way is a statement of our belief and confidence in it."
SYIF investment manager Chris Fitzsimmons says the fund is investing in AtraNova because it believes the company and its product have vast potential.
Mr Fitzsimmons said: "Not only will they help reduce costs for businesses, but it will also be of benefit to the environment by reducing the level of contamination in waste water which ends up in the river system."
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Thursday 24 May 2012
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