Promethean Particles, a Nottingham, UK-based chemical manufacturing company specializing in metal-organic frameworks (MOFs), raised £8M in Series A funding.
The round was led by Mercia Ventures and Aramco Ventures, with participation from existing investors including the Midlands Engine Investment Fund I (Equity Finance fund, managed by Foresight), the University of Nottingham, TSP Ventures, and the East Midlands Early Growth Fund (managed by the British Business Bank).
The company intends to use the funds to build a scaled-up manufacturing facility, expand the team, and implement further projects that demonstrate the potential of MOFs in energy transition applications.
Led by James Stephenson, chief executive officer, Promethean Particles is a manufacturer of metal-organic frameworks (MOFs). Originally a spin-out from the University of Nottingham, the company is now focused on utilizing its proprietary continuous flow manufacturing technology to enable the deployment of MOFs at industrial scale. Promethean currently produces a wide portfolio of MOFs for various customer applications including carbon capture and storage (CCS), biogas upgrading, water harvesting and gas separation and storage.
FinSMEs
14/08/2024