NatWest assist local Inventor in Reading


NatWest assist local Inventor in Reading

A Reading-based inventor has launched an innovative new product to save residential homes significant energy costs through the support of a £25,000 start-up funding package provided by new banking partner NatWest.

Richard Jessel is the brains behind Ecoflap - a draught and wind proof letterbox. Designed and patented by Richard, Ecoflap manufacture the mouldings in China and assemble in the UK to ensure product quality. It is designed to exclude any draft or wind through your letterbox to assist with savings on rising energy costs. Richard is in his fourth month trading Ecoflap and is increasing his internet sales month on month with the latest turnover figure from September 2010 to date predicted at £21,000. With no overheads to account for, Richard and Anne work from home and manage the orders direct to the general public, web resellers and approach door manufacturers direct.

At a time they were looking to launch Ecoflap the husband and wife team were looking for a bank to provide start-up costs. Sunny Rahelu, a NatWest business manager in Tilehurst understood the couple's business plans and the Ecoflap product and was happy to provide £25,000 for them to launch the product and generate orders initially in the UK and Europe.

Richard Jessel, Partner, Jessel Innovations, said:

"I was always known for my inventions and when I invented Ecoflap I was quick to patent it to prevent competition. So far the product is selling well and our short-term aim is to be a global provider and expand on our local market offering. We are grateful to Sunny for his support, knowledge and enthusiasm and excited about expanding our business and sales as Ecoflap evolves."

Sunny Rahelu, business manager at NatWest said:

"Jessel Innovations is exactly the sort of customer we are looking to support - innovative, enthusiastic with a great product to market. Richard clearly has a passion to invent a market leading product and Ecoflap show all the signs of generating global interest. I wish both Richard and Anne every success with their business ambitions."

Media enquiries:

Zoe Martin
Regional Communications Manager, RBS/NatWest
Tel: + 44 (0) 7899 062 129
Email: zoe.martin@rbs.co.uk

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