Interface Polymers today announced that it has closed a £2m investment round led by private capital investment group 24Haymarket.
The company’s unique Polarfin® copolymer additive technology modifies the surface properties of the world’s most commonly used plastics enabling adhesion between otherwise incompatible materials.
With strong interest from overseas customers in the packaging, construction and recycling sectors, the nascent business is initially focusing on its range of polyethylene-based additives for use in combination with polar polymers such as polyethylene terephthalate (PET), polyvinyl acetate (PVA) and polystyrene (PS). Examples of end-use applications under development include elimination of tie-layers in multi-layer packaging, improving paint adhesion and enabling the recycling of mixed plastic waste.
Commenting on the investment, Phil Smith Chief Executive Officer at Interface Polymers said “We are delighted to have 24 Haymarket and their investors on board. We have a fast-growing queue of customers waiting to trial our Polarfin® additives so this funding will enable us to scale up production and further develop our value propositions across a diverse range of exciting applications”.
Jean-Lou Rihon at 24Haymarket said: “This is a first-class management team that we are backing, with in-depth knowledge and outstanding track records in chemicals and other relevant sectors. With the help of the non-executive directors the business should advance relatively quickly into becoming a provider of high performance additives to targeted industries.”
24Haymarket is a premium deal-by-deal investment platform focused on high-growth businesses, investing up to £5 million in any particular company. 24Haymarket’s Investor Network includes several highly-experienced private equity and venture capital investors, seasoned entrepreneurs and senior operators. We invest our own capital in direct alignment with entrepreneurs and typically seek board representation to actively support their growth agenda. Since inception in 2011, 24Haymarket has invested in more than 50 high-growth businesses.