Delivering bespoke solutions to early-stage customers, leading to development of generic products in niche markets.
Theta Technologies Limited (reg. no. 6137537) is the wholly owned subsidiary of TTL Holdings Limited (reg. no. 6764178). Both companies have their registered offices at the Innovation Centre, Rennes Drive, Exeter EX4 4RN.
TTL Holdings was originally a spin-out in 2008 from research by one of its founders, Dr Peter Armitage, conducted at Exeter University. Control of the company passed in 2011 to a group of private ‘angel’ investors, led by the current Chairman, Iain Fairbairn. It remains privately owned by a committed, small group of individuals, most of whom are professional engineers from the aerospace industry or experienced senior executives, who have personally invested over £1m.
The companies conduct a “qualifying trade” for the purposes of the Enterprise Investment Scheme and, subject to personal circumstances, the past investors have enjoyed the benefits of EIS tax reliefs.
The early years were spent on technical development of the company’s unique technology and it was really only in 2015 that any effort was put into external promotion of its commercial capability.
The corporate vision is to deliver bespoke solutions to early-stage customers, leading to development of generic products in niche markets. Financing that step-change to large scale production will probably be the catalyst for a trade sale or flotation.