CelluComp, a sustainable materials company have just closed a £2.4 Million funding round to scale up and commercialise production of nano-cellulose fibres.
Sofinnova Partners’ Green Seed Fund led the financing along with Scottish Enterprise through its investment arm, the Scottish Investment Bank (SIB), Claridge and a syndicate of angel investors.
The company founded in 2004 uses a proprietary technology to extract nano-cellulose fibres from the waste streams of root vegetables to produce a unique product called Curran. This product provides a highly performant, environmentally-sound and economically-viable solution to rheology (thickening) and reinforcement in multiple industries, such as paints & coatings, home and personal care, concrete, oil drilling and composites. CelluComp is in the process of scaling-up its production and commercialising its product globally.
Christian Kemp-Griffin, CEO of CelluComp, commented;
Along with founders David Hepworth and Eric Whale I am extremely pleased to have raised this round of financing with such important partners. This investment not only gives the company the needed funds but also brings a combined level of expertise and professionalism that will allow the company to be successful quickly.