LONDON, May 02, 2023 (GLOBE NEWSWIRE) -- Milltrust Ventures, the university venturing arm of the award winning investment organisation, Milltrust International, focused on sustainable prosperity across its many investments, welcomes the news that UK biodegradable plastic company, Polymateria, has completed a successful Series B funding round, led by Singapore-based Temasek affiliate, ABC Impact, and sustainable chemical company, Indorama Ventures. This round saw Polymateria raise an additional £20 million in capital to help enter new markets and accelerate the commercialisation of its ground-breaking technology at scale.
First invested into by Milltrust and its clients, as part of Green Earth Ventures, a silo of British Innovation Fund II, Polymateria is a pioneering biotech company whose technology was first developed by scientists from Imperial College London in 2016. Polymateria provides a patented time controlled biological additive for incorporation into conventional plastic manufacturing processes to create biodegradable plastic packaging - a genuine world first. This technology has significant potential to efficiently reduce the most common sources of plastic pollution including plastic bags, trays and cups, which account for 50% of all plastics used in Europe.
Mr Hopkins, CEO, Milltrust International said: “Polymateria is yet another example of Milltrust’s solid investment process and rich track record in identifying and supporting winners amongst hundreds of companies evaluated annually, the key being dynamic management, cutting edge IP and unique growth potential. Milltrust was especially pleased to be able to help secure this additional funding for Polymateria through introducing the company to potential investors in Asia from our offices in Singapore, where Polymateria is now co-located.”
In combination with other successful investments such Roslin Technologies, Pragmatic Semiconductor and Vaccitech, Polymateria furthers Milltrust’s credentials as one of the leading investors in the fields of healthcare, Smart Proteins, and responsible stewardship. Through the creation of British Innovation Fund II, Milltrust continues to identify winning companies originating out of UK universities, providing its expertise to assist the roll out of impactful solutions which benefit humankind.
About Milltrust International Group
Under a single mantra of Sustainable Prosperity, Milltrust is a specialist, award-winning investment organisation co-headquartered in London and Singapore offering a range of life-changing investment solutions seeking to address some of the greatest themes of our generation including the development of emerging economies, rising food demand, the technological revolutions and its impact on healthcare, food systems and climate change. Clients include pension funds, sovereign entities, family offices, entrepreneurs and HNWIs. The firm operates in a regulated capacity across multiple jurisdictions including the UK, Singapore, Ireland, and Cayman and has a partnership with WWF, the world’s leading independent conservation organisation. www.milltrust.com
Further Information:
Simon Hopkins, CEO Milltrust International Group, info@milltrust.com, www.milltrust.com
