Inventors Reaction Towards Further Investment For UWI Label
Friday, October 5th, 2012
on behalf of Project Work and Other Clients
Trade Press Covers Inventors Investment
The inventor of the UWI label, which shows how long a food product has been open, discussed a vast increase of the products development recent investment will create, as well as granting an expansion to the businesses management and support staff base
The Scottish Investment Bank through its Scottish Seed Fund granted the project £250,000; a further £254,000 has come via a private US investor alongside £60,000 from a private UK investor, accumulating to over £500,000.
Inventor Pete Higgins has announced that the funding will allow the manufacture of the first batch of samples by the first half of 2013.
He said: “The money raised through Scottish Enterprise and AeroDen is a huge boost for our product, which will accelerate its development greatly, and we believe it will project us into the big league.
“Specifically, it will allow us to manufacture working samples by first half of 2013 which will then allow our interested parties to test the labels for themselves as well as attending global trade shows to market the UWI Label further. Additionally, we are looking to add to our management team and support staff to bring further expertise to the company.”
UWI label works by creating a chemical reaction which breaks the seal on the label as soon as the food jar or packaging is opened, starting a visual countdown of when a food product expires, green when the product is safe and red when the product is not.
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