Weedingtech

Sector:
Environmental Technology
Invested in:
Calculus EIS, Calculus VCT

Weedingtech is a world leader in herbicide-free, non-toxic weed control. Its proprietary Foamstream technology uses a combination of heat and chemical-free foam to kill weeds and moss, offering municipal and agricultural markets a viable and sustainable alternative to commonly-used herbicides which are increasingly associated with serious health issues.

Since Calculus Capital’s first investment in December 2016, Weedingtech has performed strongly, launching a significantly improved product (Foamstream M1200), extending sales reach in Europe and North America, strengthening management and doubling turnover. With Calculus’ support, Weedingtech secured £2.2m funding in April 2019 from a new institutional investor specialising in environmental sustainability and a further £0.2m at a higher price in August 2019. The funds will be used for the continued expansion into the US, sales and marketing and operational improvements.

Significant customers now include the Cities of Munich, Porto, Barcelona and Florence and the Swedish MOD in Continental Europe; London Borough of Hammersmith and Fulham, Wessex Water and AMEY in the UK; and Toronto Metro (Canada), the Cities of Seattle (WA) and Orange Town (NY), the NY State Department of Environmental Protection and Central Park, New York City in North America.

Rationale

Weedingtech is a world leader in an attractive, growing market, driven not only by general environmental trends, but also by increasing health concerns relating to chemical herbicides. The company is performing strongly with a unique technology, launched products and sales enquiries at record levels.

The new investment will be used to support the launch of Foamstream M600 (a lighter, lower flow model), to enhance North American and European sales capabilities further and to ensure the company has sufficient working capital for its growth.