Ellis Jones Solicitors support ‘Dragon’s Den’ inventor.
We have been supporting a Dorset entrepreneur who won backing from business man Peter Jones after appearing on Dragon’s Den TV show.
Father of two Spencer Turner managed to get three Dragons – Deborah Meaden, Touker Suleyman and Peter Jones – pitching for his business, a new invention called the Tegstove. Spencer will finally see his invention go into full production in China in November.
He accepted a £45,000 offer from Peter Jones for a 25 per cent stake in the business.
The Tegstove is a butane gas stove which can also charge mobile devices. This intuitive device is perfect for the camping enthusiast! It will retail for £150 including VAT.
The Tegstove has been described as ‘the ultimate camping stove’, with Costworld Outdoor and Go Outdoors already pre ordering stock.
“I have lived and breathed the Tegstove ever since we first introduced it at the Gadget Show in 2013. We even sold our house to fund its development such is our belief in the product,” said Spencer, 43, who attended Queen Elizabeth’s School in Wimborne and now lives in Highcliffe.
“I have had the backing of my wife, Angelina, every step of the way and we have also involved our two children, aged 14 and 11. It’s been very tough at times but at last we’re on the verge of seeing the Tegstove become a commercial reality. To say that is exciting is an understatement,” added Spencer.
Our Business Services Department, headed by Neil Cook, acted as legal advisers to Spencer during the negotiations with Peter Jones.
Neil, who comes from a business background and has headed legal departments in both London and New York where he re-qualified as a US attorney, said: “This has been a very interesting, and at times complex, project and we’re very pleased and proud to have helped Spencer to finally realise his ambitions for the Tegstove.”
Spencer praised Ellis Jones for an “excellent job” adding that Neil’s background as a US attorney was likely to prove useful when the Tegstove is launched in America.
“There has been nothing like the Tegstove so the demand is unknown but we believe worldwide sales could eventually run into many thousands every month. The potential market is huge,” Spencer said.