Promethean Particles Secures £8 Million for Expansion
Promethean Particles, a forward-thinking chemical manufacturing company located in Nottingham, UK, has recently secured £8 million in Series A funding. This significant financing round was led by notable investors Mercia Ventures and Aramco Ventures, and also saw contributions from several existing investors that include the Midlands Engine Investment Fund I, which is managed by Foresight. In addition, prominent institutions such as the University of Nottingham, TSP Ventures, and the East Midlands Early Growth Fund, overseen by the British Business Bank, showed their continued support for the company's innovative initiatives.
The capital raised will be strategically utilized by Promethean Particles to establish a state-of-the-art manufacturing facility that will allow them to scale up their operations effectively.
Moreover, the funding will also enable the company to expand its talented team, ensuring that they have the necessary human resources to manage their growth. Additionally, Promethean intends to launch further projects that highlight the vast potential of metal-organic frameworks (MOFs) in applications related to energy transition, thereby contributing to a more sustainable future.
Under the leadership of James Stephenson, the chief executive officer, Promethean Particles has emerged as a leader in the manufacture of MOFs. Originally spun out from the University of Nottingham, the company has dedicated its efforts to leveraging its proprietary continuous flow manufacturing technology. This innovative approach allows Promethean to produce a diverse range of MOFs that cater to a variety of customer needs, including critical areas such as carbon capture and storage (CCS), biogas upgrading, water harvesting, as well as gas separation and storage. In doing so, Promethean is committed to playing an essential role in addressing some of the pressing environmental challenges of our time.
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