Sky Chemicals
Business Loans Case Study
Sheffield based Sky Chemicals develops and manufactures cleaning products using peracetic acid rather than the more traditional ingredient of chlorine.
Peracetic acid is notable for its antimicrobial properties and rapid environmental decomposition into the non-toxic residues of acetic acid, water and oxygen.
The company
Sky Chemicals founder Mike Joseph and his team have worked closely with experts at Sheffield Hallam University to develop peracetic acid in powder form which is more stable than as a liquid.
Mike explained: “Traditional chlorine-based cleaning products have limited effectiveness. Using peracetic acid is safe and more efficacious while being environmentally friendly and sustainable.”
Sky Chemicals has also collaborated with University College Hospital London (UCHL) to clinically test its disinfectant products which are used by several NHS hospital trusts for infection control.
The company is still collaborating with Sheffield Hallam on generating peracetic acid and with UCHL on clinical testing. The company’s partnership with Sheffield Hallam has resulted in graduate James Derham who studied to PhD level recently joining the business as Research & Development Lead Chemist.
The challenge
Sky Chemicals has ambitions to grow the business by exploring new sectors. Bigger premises were required to support its expansion and the delivery of new product development.
Finance Yorkshire involvement
A £200,000 investment from Finance Yorkshire’s loan fund has supported Sky Chemicals’ relocation from Kelham Island, Sheffield to Kettlebridge Road, near the city’s Parkway, providing the company with more factory and storage space as well as a dedicated laboratory for new product development.
The investment rationale
Finance Yorkshire CEO Alex McWhirter said: “Sky Chemicals’ success showcases the strength of innovation in new product development being carried out between the region’s pioneering companies and world-leading universities.
“We are pleased to support Sky Chemicals relocation in South Yorkshire which will enable the business to expand, particularly into new sectors both in the UK and globally.”
Future expectations
As well as the NHS, Sky Chemicals supplies the Japanese health care market with its Pericide™ products and is seeking to export to other countries. It is also targeting the food industry as a key growth area and plans to add to its eight-strong headcount.
Mike added: “Finance Yorkshire’s investment is helping us to improve our business potential and attract new customers.”