London bioplastics firm secures investment for Yorkshire relocation
A London-based bioplastics specialist has secured investment to relocate key operations to Yorkshire.
Chip[s] Board has announced plans to expand following a fundraise advised by mergers & acquisitions specialist Ciesco.
Co-founded by Rowan Minkley and Robert Nicoll in 2017, the company uses proprietary technology processes to develop bioplastics and bioplastic composites, initially from industrial food waste, such as potato waste.
Chip[s] Board plans to use the funds to relocate staff and laboratories to Yorkshire - a central region for the supply of raw materials - and build a pilot plant to demonstrate production at scale.
Rowan Minkley commented: “Sustainability is the core principle Chip[s] Board was founded on and is the driving force behind our need to improve the world we live in.
“Our philosophy is that a circular economy within waste management and material production will create a new sustainable model, utilising the abundant resources we currently have rather than continuing to process virgin materials.
“We’re thrilled to be able to move to the next stage in our journey following this fundraise and build a plant to demonstrate what we can do at scale.”
Alan Matthews, partner at Ciesco, added: “As the world has continued to become more environmentally aware in recent years, along with the finance industry’s heightened commitment towards supporting green projects, investment in cleantech has grown significantly.
“We’re seeing technology filling the void and highly efficient sustainable businesses such as Chip[s] Board being created – efficient in resources and efficient in their business model. Investors are also seeing the benefits of supporting the growth and development of these companies.
“We have every confidence that the team at Chip[s] Board will continue to go from strength to strength and demonstrate the enormous value of their product to address the environmental challenges we see today.”
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