I-Phyc, a Birmingham, UK-based green water treatment company, raised £2.3M in funding.
The round was led by Mellby Gård AB, and MEIF Proof of Concept & Early Stage Fund, which is managed by Mercia and part of the Midlands Engine Investment Fund, and private investors.
The company intends to use the funds to establish itself as the technological leader in ‘circular’ solutions to remove wastewater contaminants.
Led by Karl Wills, Executive Chair, I-Phyc has developed a nature-based wastewater treatment solution. The system uses algae to remove phosphorus, ammonia and other contaminants, while locking away carbon and creating sustainable by-products from the biomass produced. It has the potential to improve water quality in rivers and streams and enable water companies to meet stricter limits on pollutants which is difficult to achieve economically using current systems.
The technology is already in operation at water treatment plants at Weston-super-Mare and Broadwindsor in Dorset, and will be used in a new plant at Croxton Kerrial in Leicestershire. The company has seen a major increase in enquiries in the past year and is now in discussions with all the major UK water companies as well as operators in the US and Scandinavia.
I-Phyc, which also has a laboratory in Bristol, currently employs 15 staff and is planning to create five new jobs in the six months ahead.
FinSMEs
06/09/2022