SAVORTEX has completed a £1.5m funding round to develop a range of smart, environmental hand dryers for customers including RBS, British Airways and Marriott
The technology gathers data while in use and feeds information about energy usage and possible cost-savings back to the customer through an online portal.
Angel investor John Calvert, a management consultant, is behind £600,000 of the growth capital.
SAVORTEX has also received a £100,000 grant from the Technology Strategy Board. The rest of the funding was raised through a consortium of high net worth individuals and angel investors.
The investment will be used to develop the first product in an upcoming range of smart eco hand dryers. The EcoCurve Smart Dryer has the “lowest carbon footprint per dry,” claims Ahmed. This would make it the world’s greenest hand dryer.
The dryer is currently being trialled by the Royal Bank of Scotland (RBS) across 50 sites, with predicted savings of £30,000 and 14 tonnes of waste per building, per year. Other clients include British Airways, Marriott and McDonalds.
Ahmed said: “There are 70 million washrooms globally. A massive 80pc are still using damaging and very expensive paper towels, so you can see why we wanted to build something that disrupts this very inefficient market.
“Paper towels alone account for over 54m trees per year, contributing to 35pc of waste in land fill sites.”