MTI announces the appointment of Martin Keighley as CEO of its portfolio company, Arvia Technology Ltd (‘Arvia’), to drive the commercialisation of the business and build the management team.
Prior to joining Arvia Martin Keighley was European Managing Director for Tata Chemicals / Brunner Mond.
Arvia has developed a low cost and low maintenance process for the removal of micro pollutants from water and is a spin-out company from the University of Manchester’s School of Chemical Engineering.
The UMIP Premier Fund (UPF) and Alliance Fund Managers (AFM) invested £800,000 in Arvia in September 2008, which enabled the Company to undertake commercial trials at customer sites validating Arvia’s technology. On completion of the commercial trials the Company will be aiming to have in place the necessary management team to enable Arvia’s products to go into full scale commercial delivery.
The UMIP Premier Fund was established in 2008 with the objective of providing late seed capital to spin-out companies primarily from the University of Manchester that have promising new technology. MTI is the manger of the UPF and has made three investments since its launch. With offices in the UK and the US, MTI possesses a wealth of experience in technology investing.
Commenting on today’s announcement, MTI Managing Partner, David Ward said:
“The ability to attract world class business talent underlines the quality of UPF investments and its dealflow. Arvia has just taken a significant step forward.”