Mark Hislop, of Advantage, said: “We were delighted to have advised on the deal, having drawn up the business plan and introduced Hydratech to the funders.” “In addition it will bring badly-needed jobs to Swansea and will greatly benefit the local economy.” Glyn Thomas, of UK Steel Enterprise, said: “We are delighted to be supporting Hydratech as they develop and market this innovative and exciting new product, which may well have a major impact on industry, and bring benefits for the environment. The addition of the waterless coolants to Hydratech’s portfolio of heat-transfer fluids for refrigeration, solar, geothermal and air-source systems under the Coolflow, Solaris and Thermox brands, will now enable the company to expand even more rapidly. “They eliminate rusting and galvanic corrosion, and improve engine performance and efficiency, and they pose no threat to living things.” “Evans coolants have a much higher boiling-point, which prevents pressure build-up and overheating. It has a relatively low boiling-point, a propensity to corrode, and traditional antifreeze is a risk to humans and animals. “Traditional engine coolant is half-water, half-antifreeze and is also toxic. “We saw that their innovative skills, combined with our ability to bring the product to market, was a winning combination.” “Evans Cooling Systems in Connecticut invented the new product and we began working with them four years ago,” he said. Hydratech managing director Steve Hickson explained how the relationship with the US firm developed. In the automotive sector, Hydratech’s ClassicCool-180 and VintageCool-180 products are attracting interest from niche groups such as the Bentley Drivers Club, and a number of the top 10 most valuable cars in the world have been converted to Evans products. Other blue-chip companies, including UPS, are making Economax conversions. In the US, following year-long trials where fuel savings between 4-12% were recorded, Veolia Environmental has placed an order for 2,000 Economax conversions for their refuse collection fleet. A major builders’ merchant has confirmed an order for Economax conversions to its vehicles, and results for all test fleets are encouraging. The system is being trialled in 10 haulage fleets belonging to companies in South Wales and the UK. In conjunction with its US partner, Hydratech has developed the Economax Engine Cooling System which incorporates the Cool-180 range, and this is being marketed under the trading name of Evans Cooling Systems UK, within the Hydratech Group. The business plan underpinning the new investment forecasts 45 jobs will be created at the Fforestfach factory in three years, during which time turnover will treble to £7.5m. Hydratech was advised in the deal by Advantage Accountancy & Advisory, of Cardiff. In one of its largest-ever deals, Tata subsidiary UK Steel Enterprise has backed the new venture, putting in £500,000 in a debt and equity package.
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