Propelair has been described as a “highly efficient” business that has contributed to 5% of UK GDP in 2021, alongside other SMEs that had received financial backing from private equity and venture capital firms during the pandemic.

The acknowledgement appeared in this year’s private capital investment report by the British Private Equity and Venture Capital Association (“BVCA”).

Sustainable economic growth a key priority for UK

Last year, 1320 UK companies collectively received £17.3 billion by BVCA members, of which 90% went to SMEs like Propelair, enabling them to contribute to 5% of GDP. Propelair was backed by BVCA member Earth Capital. Earth Capital is a global sustainable investing private equity specialist. In April, The Nobel Sustainability Fund® managed by Earth Capital announced an additional £3.75m investment into Propelair.

BVCA director general Michael Moore described sustainable economic growth as a key priority in today’s uncertain times, adding that private equity funding is crucial for success. “These companies are helping solve some of the most pressing challenges facing society today,” he said.

Last year’s private equity investments were 82% higher than in 2020 and supported almost two million jobs in the UK, with two-thirds of jobs outside of London.

While the investments were made to a variety of industries and companies, the report highlighted that the private equity and venture capital sector continues to support companies with a sustainability focus as more and more people adopt eco-friendly products like Olio, a food sharing app; smol, a sustainable laundry detergent, and Propelair’s water-saving toilet.

We help companies achieve sustainability targets

Unlike Olio and smol however, we focus on commercial sectors, addressing other businesses’ sustainability targets and challenges. That is because toilets in public and commercial premises, such as co-working spaces, shopping centres, hospitals and public parks, often get flushed more than 40 times a day each, using between 6-9 litres per flush. These high-use toilets account for significant amounts of water usage in the UK, estimated to be about 10% of total drinking water, according to a Propelair management analysis. This flushed water is not only contributing to the increasing risk of water scarcity, it is also expensive: estimated at £1.4 billion.

Saving water also saves money

We believe there are close to seven million high-use toilets in our current markets – the UK, South Africa and the Gulf nations, providing us with a huge opportunity to save valuable water resources, saving companies money on their operational costs and making washrooms more hygienic for users.

The investments we have received in 2021 and 2020 have played a crucial part in us achieving our targets of entering new markets, growing in our existing markets and to fund R&D into new features and products. We continue to focus on building a recognisable brand and becoming the go-to supplier in the high flush-count toilet space, both in the UK and abroad.

As a British business, we are proud to be able to contribute to both our local economy and a more sustainable future.

You can find the full report here.