How Business Loan Boosted DEW Product's Hand Sanitiser Production
Amongst these extremely challenging times, Dundee based manufacturer, Ecoanolytes has experienced a spike in demand for production of its hand sanitiser products to support the national effort to fight Coronavirus.
Formed in early 2019, Ecoanolytes provide electrolysed water cleaning and disinfecting solutions, sold under the DEW brand, which kill 99.99% of bacteria, viruses, fungi and spores.
With the demand for hand sanitising products higher than ever, Ecoanolytes experienced a colossal growth in enquiries and were keen to adapt their business processes to meet the needs of consumers.
A major contributory factor in the company’s ability to develop and now to expand, in order to meet the ever increasing demand for its product during the COVID-19 crisis, has been the support it has received by local and national Scottish Agencies.
Receiving their first loan of £50,000 from Business Loans Scotland (BLS) in March 2020, the Company’s Directors initially planned to use these funds to introduce new product lines but quickly identified a need for additional funding to support the businesses increase in production during the COVID-19 outbreak.
The Coronavirus outbreak has challenged everyone in our society and for Ecoanolytes that challenge has, and still is, to try and keep pace with demand for its Hypochlorous Acid based disinfection products. To meet that challenge the company has had to lease additional premises, invest in more effective business infrastructure, substantially increase its workforce and order yet more production equipment.
As demand continued to soar, the team at Ecoanloytes applied for and secured a second loan through BLS in April 2020, this time for £40,000, which allowed them to purchase additional equipment which would support larger production quantities of their products.
“Being such a young company, with very limited resources, it is difficult to underestimate the value of the hand-holding provided by these organisations,” said Erik Smyth, company CEO.
“After we received our loan from BLS, we were able to purchase the latest production equipment, enabling us to increase production and reduce our operational carbon footprint,” he went on to say.
Unlike the alcohol based sanitiser currently being offered on the market, Ecoanolytes DEW sanitiser products carry no fire risk, do not damage your skin, are not dangerous if inhaled, so it can be ‘fogged’ to rapidly and thoroughly decontaminate an enclosed area, they do no harm if ingested and the active ingredient is only 0.05% NOT the 60/70%+ required by alcohol based products. With so many excellent attributes, it’s no wonder that interest is coming from all quarters, including many Countries across the World.
CEO of the company, Erik Smyth said: “Obviously we are delighted that our products are doing so well and our business continues to grow. We couldn’t have done this without the considerable help we have received from our many supporters across a variety of government agencies and the hard work that our team has put in over the last couple of years. It is finally paying off for us and we are now in a position to substantially grow our business both here in the UK and Internationally.”
Speaking of the loans issued to Ecoanolytes, Andrew Dickson, Fund Manager for Business Loans Scotland said: “I am delighted that Business Loans Scotland has been able to support Ecoanolytes with two loans totalling £90,000 to expand and fulfill the colossal demand for their hand sanitising products.
"This is a prime example of a Scottish business who required access to finance to grow, and with the help of a business loan, has been able to ramp up production within their manufacturing facility. It’s fantastic to see Scottish businesses, such as Ecoanolytes, adapt during these extremely challenging times and continue to work tirelessly to support the national effort to fight Coronavirus.”
Insider. 2020.How Business Loan Boosted Firm's Hand Sanitiser Production. [online] Available at: <https://www.insider.co.uk/sponsored/dundee-manufacturers-production-hand-sanitiser-22137210> [Accessed 12 June 2020].