Affresol Ltd, a Llangyfelach, Swansea, UK-based developer of a technology process that produces a “synthetic” concrete (called TPR) from waste diverted from landfill, raised £138k in equity crowdfunding.
122 backers acquired a 5.5% stake in the company via CrowdCube.
The company, which also raised 100k from angels, £40k in R&D Tax Credit and £50k in debt funding, intends to use the funds to expand production facilities and premises, to increase its sales & marketing efforts, for patent application & accreditation and working capital needs.
Founded by Ian McPherson, Affresol manufactures sustainable housing solutions made from a low carbon building product called TPR (Thermo Poly Rock), which is produced from a cold process that takes selected waste products that have been diverted from landfill. This pre selected waste is recycled then size reduced, after which it is mixed with a Resin and the TPR Polymers.