New World Angels is investing an additional $1 million in Clarke Industrial Engineering to fund Clarke’s continued expansion of its patented Shutter Valve line. Clarke is headquartered in Miami with operations in Rhode Island.
Invented by Kyle Daniels, Clarke’s CEO and founder, the Shutter Valve is the first major innovation in 50 years in the $86 billion valve industry, the company said. Industrial valves play a critical role in manufacturing, regulating the flow and control in piping systems in power plants, oil and gas applications and food and beverage processing facilities.
Daniels brought his business plan for his patented idea to New World Angels in 2014 and received funding that year, said NWA Treasurer Bob Williamson, a member of Clarke's board.
Daniels said the company is building out its infrastructure to produce an expanded product line. “We now have valves in several industries, including natural gas, water, power and paper. Combined with our recently announced license arrangement with Curtiss-Wright to expand the Shutter Valve into the defense and nuclear industries, this investment enables us to seize the opportunities before us and continue on our growth path,” he said in a news release.
This is the Florida structured angel group's second follow-on investment this year. In January it invested $500,000 in Tao Connect of St. Petersburg. In the past three years, Boca Raton-based New World Angels has invested $10 million in Florida companies.