Plaxica, a UK-based biotechnology company, raised £1m in a funding round led by Imperial Innovations Group plc, with participation from Carbon Trust Investments Limited and the National Endowment for Science, Technology and the Arts (NESTA).
Imperial Innovations invested £400,000 of the new funds with the rest of the investment coming from Carbon Trust Investments Limited and NESTA.
Plaxica develops technology to make a sustainable polymer at a cost, and with the properties, that can directly compete with high volume plastics made from fossil oils.
The funds will be use to help Plaxica’s continued development of new and more energy-efficient ways to create high-quality biodegradable plastics from renewable sources with a wide variety of applications.
FinSMEs
08/10/2009