Thermilate's second round of funding

The second round of funding in the Huddersfield firm, which makes innovative thermal insulation and protective paints, coatings and building products, will see the money used to increase its distribution. EV declined to reveal the value of the deal

Last year Thermilate began supplying thermally-efficient coatings to more firms in the UK and overseas. Thermilate's products are used inside and outside by domestic, commercial and industrial clients. They are designed to save energy and cut costs by using nano-insulating technologies

Wayne Thomas, EV investment director for the deal, said: "Burgeoning global demand for reduced carbon usage means that many organisations are now looking at alternative sources of building and related materials – and this is Thermilate's clear market opportunity."

Ash Ashfaq, managing director of Thermilate, said: "We are already trading very healthily and with the additional investment, we are accelerating the immediate implementation of plans for growth."