Nottingham-based Promethean Particles Ltd — a specialist manufacturer of nano-materials — has received a £749,000 investment from Foresight Group, which is a private-equity investment manager.
This will allow PPL to create new jobs, scale up its production capabilities and enter new markets. A spin-out from the University of Nottingham, PPL was founded in 2007 to commercialise an innovative technology based on the research of one of its professors — Ed Lester.
The company (
www.prometheanparticles.co.uk) designs and manufactures high-specification nano-materials that have specific chemical and physical properties.
To date, the production of nano-particles has largely been restricted to batch manufacturing or dry technologies that can experience issues relating to quality, safety and scalability.
PPL has developed a continuous-flow reactor that gives it the ability to manufacture at scale and improves process reproducibility and reliability.
The company is working with other organisations to enhance the efficiency and effectiveness of speciality chemical inputs in a range of markets, including inks, printed electronics, and gas capture and storage.
The investment is expected to support the creation of over 20 new jobs in the next five years.
Laurie Geldenhuys, CEO of PPL, said: “The support of Foresight and our existing investors will be significant in helping us achieve our long-term commercial goals.”