With commercialisation support from FIS360, Typhon Treatment Systems Ltd went from an initial product idea to securing proof-of-concept followed by prototype development funding, to successful sales of their new product.
Typhon Treatment Systems Ltd is developing the world’s most energy efficient water purification system using ultra-violet (UV) LEDs. It is compact, safe, price competitive and is straightforward to operate and maintain. The technology is applicable to large-scale municipal water treatment systems and smaller scale localised water treatment applications for destroying harmful bacteria and toxic chemicals. It is expected that replacement of existing UV water treatment technology with Typhon’s UV LED water treatment system may result in an 80 to 90 percent decrease in energy required. This decreases the cost of water purification, reduces greenhouse gas emissions from fossil fuel power plants, and enables the use of alternative energy sources to power the water treatment system.
FIS360 encountered Typhon Treatment Systems Ltd when they approached the Innovus programme looking to secure proof-of-concept funding for the development of their novel idea for an energy efficient water purification technology. FIS360 commercialisation experts provided an initial appraisal to understand the status of the technology, its application, and the immediate and future goals of the client. The aim at this stage was to assess the viability of their technology concept and to develop the commercial case in support of their funding application.
FIS360 carried out a project assessment identifying market opportunities and competition to the technology, and worked in collaboration with the Typhon team on a detailed technical and commercial development plan and business model for the company.
The FIS360 team then successfully supported Typhon through the process of securing proof-of-concept funding (£116k) for a demonstrator system of their water purification technology, followed by prototype development funding (£200k) from the Innovus Regional Growth Fund. Throughout these stages of development, FIS360 continued to work closely with the Typhon team, providing ongoing mentoring in addition to monitoring the projects against their agreed milestones on behalf of the funding body. An adaptable approach was used to ensure new opportunities identified by Typhon and FIS360 could be exploited as they arose.
With commercialisation support from FIS360, Typhon have successfully proven their technology concept, developed a full-scale prototype, and have secured significant venture capital investment from a global LED manufacturer and a high net worth individual. They are now deploying prototype systems with industrial end-users including the principal UK water utility companies.
“Working with FIS360 has been a hugely positive experience. They have been highly supportive and easy to interface with, and the support of the FIS360 team has greatly enhanced the quality of our commercial offering, increasing our success in securing the funding needed to bring our technology to market.” Dr Matthew Simpson, Managing Director and Founder, Typhon Treatment Systems Ltd.