Kelda Showers Limited completed its Growth Capital raise in August 2023 from a combination of family offices, the Low Carbon Innovation Fund and existing shareholders to provide working capital for the commercial roll out of its water saving showers.
Kinetix Corporate Finance was the exclusive financial adviser to Kelda Showers Limited for the transaction.
Kelda Showers utilises the principles of fuel injection technology, introducing water into a high-velocity airstream, creating water droplets 250% larger than a normal shower, and delivering a comparable shower experience with 50% of the water. The impact of Kelda’s shower technology for a new home is to reduce the carbon footprint of the whole home by 10% and its energy use by 20%.
Kinetix Partner, David Armfield, commented, "We are delighted to have had the opportunity to advise Kelda in this follow-on transaction and look forward to seeing Kelda disrupt the new-build home and commercial showers market. With water heating consuming approximately 18% of the energy utilised in a home, Kelda’s technology can have a significant impact on the sustainability of the built environment."
Richard White, Kelda’s CEO, commented, “Kinetix has done a fantastic job of bringing some key new investors into Kelda and we were able to surpass our expectations in terms of funds raised”
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