Cellexcel, a Norwich, Norfolk, UK-based biomaterial technology startup, raised over £250K in funding.
Backers included College Green Ventures, New Anglia Capital, Low Carbon Innovation Fund, and Turquoise, alongside angel investors from Anglia Capital Group.
The University of East Anglia spin-out intends to further develop and commercialise Cellexcellent™ in real-world applications, while building its capabilities to enhance biomaterial water resistance.
Led by Tim Pryce, Executive Chair, Cellexcel has created Cellexcellent™, a patented technology to enhance the water resistance of biomaterials, reducing carbon emissions and increasing sustainability. This enables biocomposites to be used in external applications, such as the exterior panels of cars, trucks, vans, or aircraft, reducing their carbon footprint without impacting strength or other properties.
Commenting on the news, Tim Pryce said: “Since I joined Cellexcel in July 2022, we’ve focused on strengthening the team and putting in place the structure to effectively commercialise our technology. Our new funding enables us to move to the next step, engaging industry partners in areas such as automotive, packaging and construction to match our technology to pressing market needs for more sustainable materials that deliver the highest levels of performance.”
FinSMEs
13/03/202