Middlesbrough-based envirotech Time to ACT has announced plans to raise £1m through a listing on the Aquis Stock Exchange Growth Market (AQSE).
Time to ACT, which was incorporated in 2011 as GreenSpur Renewables and operates two principal businesses, Diffusion Alloys (coating services, coating technology) and GreenSpur (generator technology), emphasised that it is revenue generating and growing topline at ~50% per annum, with £1.9 million cash in the bank at 31st March 2024, is seeking to raise £1 million to “de-risk growth.”
It added that its application to the AQSE Growth Market is not conditional on it raising funds, but that it is seeking to raise up to £1million of new money to de-risk growth and in support of its strategy of coupling organic growth and acquisition.
Chris Heminway, executive chairman of Time To ACT, said: “Today marks a pivotal moment for Time To ACT as we embark on the next phase of our journey to address opportunities in the energy transition supply chain.
“Our decision to float on the AQSE Growth Market underscores our commitment to fostering innovation in this sector and developing engineering-led solutions for a cleaner, greener world.
“It’s important to highlight that Time To ACT is well funded and does not require additional capital to list. Nonetheless, we believe that by broadening our investor base, including amongst retail investors, through the Placing and WRAP Retail Offer, we are providing the opportunity for new investors to become part of our exciting journey. I look forward to updating investors on our progress.”
