Alusid basks in $1.8m

Sep 20, 2018 •

University of Central Lancashire spinout Alusid has raised capital from Frontier IP to help fund a new factory for its building material made from recycled glass and porcelain.

Alusid, a UK-based recycled construction materials spinout from University of Central Lancashire, obtained £1.3m ($1.8m) in funding on Tuesday backed by commercialisation firm Frontier IP.
Unspecified new and existing investors also took part in the round, which valued Alusid at $6.4m post-money. Frontier IP participated by converting an existing $460,000 loan into equity.
Founded in 2012, Alusid has concocted a building material branded SilicaStone, used as part of interior or exterior surfacing products such as table tops and…

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