News today that Malvern-based business Novel Polymer Solutions (NPS) has raised £5m in second-round funding. The new investors include: the Environmental Technologies Fund, Advantage Growth Fund and a number of private individuals.
NPS was created by the private equity firm Anglo Scientific (Jon Moulton, pictured, sits on its board), the technology having been generated by the Stealth Program at QinetiQ. The business is now run separate from Anglo Scientific.
NPS is "dedicated to developing its polymer technology into practical new products". The advantages of using polymers include previously impossible adhesion of surfaces and the micro-encapsulation of highly corrosive chemicals.
The Advantage Growth Fund, which previously invested in the company in November 2003, has taken-up pre-emption rights as a result of the round.
The investment is the ETF’s third from its maiden vehicle. The fund has previously invested in speciality metals manufacturer Metalysis and energy harvester Perpetuum.