Safe Solvents is an environmental technology company working to revolutionise the industrial parts washing market with game-changing aqueous solvents and parts washing machines. They aim to deliver fast-growing recurring revenues in the UK initially, and a global market beyond.
For decades, parts washing has remained a dirty, toxic, sector of engineering, condemned to the back rooms of workshops, often using outdated, inefficient machines and mainly toxic hydrocarbon-based solvents. This can result in frustrated customers, with no viable alternative.
Safe Solvents was created to deliver a safer, greener, cleaner parts washing solution to the engineering industry. Its game-changing technology has also enabled a more efficient business model. The immediate focus is on the huge, established market opportunity in the UK, and beyond this, the broader global market.
Safe Solvents’ IP, for which patents are pending, includes revolutionary, aqueous solvents and a range of beautifully-designed parts cleaning machines.
Since launching in 2015 and prior to switching from a sales to a service model in January 2018, over 200 machines were sold, resulting in revenues of c.£750k (loss in FY'18 £134,234). Since the change from a sales to a service model, the company has signed 131 contracts with a target of 150 contracts by financial year-end (Feb' 19), and is currently striving to acquire a 8% share of the UK market over the next 5 years.
Safe Solvents also has an extensive product pipeline (with 4 new products already in development) and will soon begin to look at expanding into other major industrial economies.