Plaxica is backed by Invesco Perpetual, NESTA, the Carbon Trust and Imperial Innovations that have invested a further £3m to help the commercialisation of a “lower-cost, but stronger, higher-quality polymer”.
The new funds will be used to accelerate development and increase the scale of production of the technology as an alternative to oil-based plastics for packaging, electronics and automobile parts.
Imperial Innovations has a portfolio of science-based companies and is itself connected to the college has contributed £1.2m of the investment and increased its shareholding to 41.4%.
Chief executive Susan Searle said the investment underlined the firm’s confidence in Plaxica that was an increasingly important part of its portfolio.
Click here for today’s headlines from across the packaging industry
Loading ...
Comments are closed.