Silform Technologies, a Belfast, Northern Ireland, UK-based developer of silform technologies, raised £2m in funding.
The round was led by The Bank of Ireland Kernel Capital Growth Fund in syndication with private investors.
The company intends to use the funds to establish a pilot plant in Northern Ireland and scale the R&D team in collaboration with their commercial partners to enhance the solution to broader applications.
Led by Ken Flockhart, CEO, Silform Technologies have developed an environmentally clean, high volume, low cost pelletizing system for the conversion of coal waste deposits into pellets which have economic value. The company is currently developing a metallurgical coal pellet for use in the steel industry and the production of an enhanced BioCoal, being 30% less CO2 than coal but with a 70% increase in the quantity of heat produced compared to pure wood Biomass pellets.