The head of water start-up Tor Water has called for a capital investor to help launch the business.
The company applied to Ofwat for a water supply and sewerage licence in April last year, to target the South West of England. However, this has not yet been granted.
The company has received a “no objections” notification from Ofwat, pending adequate finances.
However, it has spent a “fair bit” of the runway launch capital on “keeping the business ticking over while we waited on Ofwat”, director Jiro Wilson told Utility Week’s sister title Water.Retail.
He said the company’s investment needs are “best described as modest”, and emphasised that it is seeking an investor who is “aware of the nature of the trading environment in the South West of England”.