Loughborough-based Dynamic Flow Technologies (www.dynamicflowtech.com) has gained intellectual property protection for its new smart-meter, following a seven-year investment programme worth £1.4 million.

The company has created a system that measures the amount of waste-water, which could save companies thousands of pounds a year.

The product is the creation of Martin Croft and Duncan Wallace, who worked with entrepreneur Nic Breese and former Severn Trent director Phil Wood. The project was backed by shareholders, Government grants and industry partners Elster and Honeywell.

Mr Croft said: “A commercial launderette tells us that using our meter is saving them £600 a month. The potential for other businesses that use a lot of water — such as brewing, food processing and textile manufacturing — plus sports centres and councils that use water for landscaping is limitless, and major annual cost savings are possible after the initial installation.”

Dynamic Flow Technologies secured IP protection with the support of patent attorneys Swindell & Pearson, whose Scott Harrison said: “Dynamic Flow Technologies is a superb example of a small British high-tech business that has developed an innovative product to serve a genuine need. We’re proud to be helping them to push their business forwards.”