Brainspark PLC
22 June 2000
BRAINSPARK ANNOUNCES NEW INVESTMENT IN GASWORLD.COM LTD.
Brainspark plc (www.brainspark.com) the incubator focused on germinating and
developing Internet related businesses announced today a £950,000 investment
in Gasworld.com (www.gasworld.com).
Gasworld.com is an independent business to business exchange for the global
industrial gases sector, a niche market currently valued at around $32
billion. The industry is a highly fragmented one with no clear network
forcommunication between industry participants. Furthermore, as a capital
intensive sector, there are numerous efficiencies that can be made by smart
use of technology. The aim is to create a trading community around suppliers,
manufacturers and distributors.
The site will provide the gases industry with multiple trading mechanisms,
the opportunity to buy and sell industrial gases and equipment, and as a
vehicle for advertising to the industry. There will also be news, analysis
and discussion forums.
Revenue will be generated from commissions on transactions and value added
services. Gasworld.com aims to become a global company.
The founders of gasworld.com have a wealth of experience in the international
gas industry. Derek Marshall, CEO, was formerly Director of Strategy and
Planning with The BOC Group, having previously worked for Arthur D Little (as
a senior consultant in the oil and gas sectors), Mobil and Exxon. John Raquet
and Nick Pledge have also held senior positions at major international gas
companies, including The BOC Group, Air Products and CryoGas Consulting.
Gasworld.com has engaged Axon (a new economy systems integrator) to be their
strategic technology partner.
This investment takes the number of companies incubated by Brainspark to
thirteen, three of which (LeisureHub.com, Petspark.com and Metapack) have
successfully completed follow-on funding rounds. Along with Leisurehub.com
and Gasworld.com, Brainspark is incubating another business to business
exchange, Propex (propex.co.uk) which was announced earlier this month.
Derek Marshall, Chief Executive of Gasworld.com, said:
'We are delighted to be working with Brainspark who already have a first-
class track-record in launching other successful business to business
exchanges. They will be helping us in the early stages to develop our
technology and business model and their ongoing support should help us bring
the business to market in a much faster time-frame than could be managed
otherwise.'
Stewart Dodd, Chief Executive of Brainspark, said:
'Gasworld.com is serving a clearly defined business to business global
marketplace which is currently not addressed. We were impressed with
Gasworld.com's solid industry background and knowledge. As with our other
incubated businesses, we see value in taking the best from the old economy
and marrying that with new economy models. Gasworld.com is using technology
to provide a solution to the industry which could not be achieved in the
offline world.
We are also pleased to be working with one of our partners, Axon to create
this exciting new venture.'
Mark Hunter, Chief Executive of Axon commented:
'A fragmented market with real customer needs, a clear channel to that market
and experienced management to make it work - the key elements are in place
for Gasworld.com to create a new and successful marketplace in the global
industrial gases industry. I believe these elements coupled with Brainspark's
incubation expertise and Axon's track record in the delivery of business to
business marketplaces makes Gasworld.com a serious new entrant in this
industry.'
Enquires:
Brainspark (020 7843 6600) Gasworld.com (020 7843 6600)
Stewart Dodd Derek Marshall
David Hart
Citigate Dewe Rogerson (020 7638 9571)
Martin Jackson / Charles Vivian
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.