Manchester-based Stream Sensing Limited (Streaming Sensing), a specialist in advanced industrial rheology has secured a six-figure investment from NPIF – Maven Equity Finance, managed by Maven Capital Partners and part of the Northern Powerhouse Investment Fund (NPIF).
Founded in 2020, Stream Sensing provides next generation flow property sensors used for the quality control of fluid products. Clients are expected to be manufacturers in the fast moving consumer goods (FMCG) sectors including large blue-chip organisations.
The NPIF funding will allow the business to embark on the next stage of its growth journey, developing a new innovative generation of rheometers that use heat pulse technology to quickly and accurately measure the flow profile of liquid in a pipe. With greater investment into R&D, the company is looking to improve its industry leading technology to provide greater quality control whilst also working more efficiently and accurately, broadening is commercial appeal.
Traditionally, processing companies have used sampling solutions that measure flow properties during the manufacturing process. This often results in longer manufacturing lead times, poor quality control and supply chain inefficiencies. Stream Sensing’s solution is unique, in that it provides in-situ, real-time measurements that lighten the operational workload, creating a cost-savings through optimisation.
Stream Sensing’s technology has applications in multiple sectors and is now targeting new lucrative industries, such as specialty chemicals, pharma and oil and gas.
Backed by a management team of renowned leaders in electrical industrial tomography, Ken Primrose, CEO of Stream Sensing specialises in business planning for spinouts from universities.
Joanne Cooper, Senior Associate at Napthens, said: “Stream Sensing is a pioneer in its field, creating new, niche technology and solutions that are applicable to major organisations the world over. By advising on this investment, we are proud to have played a part in ensuring the business’ growth can continue, with greater funds available for research and development, critical to its success.”
Dean Cox, Investment Manager at Maven, said, “Stream Sensing’s management team have a strong reputation in their highly specialised sector and are excited to be supporting a business that has developed a proprietary technology that provides a unique quality control solution. During our diligence, several blue-chip organisations endorsed the team, the technology and the customer value proposition of Stream’s technology. Ken is a driven leader in his technical field with a compelling strategy and vision for the company and we look forward to working with him in helping to drive the business forward.”
Ken Primrose, CEO, of Stream Sensing, said “Our new steps in rheology instrumentation present advances in process efficiency, digital manufacturing and what is called the ‘Fourth Industrial Revolution’. I am very excited at the opportunities opening up with the NPIF investment”
Grant Peggie, Director from British Business Bank, said: “It is one of NPIF’s focuses to ensure exciting, growing businesses like this are supported in their growth journey and investments such as this demonstrate the importance of access to financial support across the North.”
Leading North West law firm Napthens’ provided legal advice on the transaction, with partner Keith Melling and senior associate Joanne Cooper from the commercial division overseeing the deal.
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.