Oxfordshire-based advanced surface-coating technology provider Hardide (www.hardide.com)has raised more than £2.5 million through an oversubscribed fund-raising scheme.

The proceeds will be used primarily to: fund two additional reactors at its US facility; enhance existing equipment at its UK and US sites; and increase its sales and marketing resources.

Chief executive Philip Kirkham said: “We are delighted to have received such strong support from investors for this fund-raising.

“It will principally allow us to invest in two new reactors in the USA, which will create the capacity required to accommodate projected new business.”