Interface Polymers has secured funding as it prepares to shape its materials adhesive concept into a commercial product.
Interface Polymers, a UK-based plastic adhesives developer spun out from University of Warwick, has raised £2m ($2.6m) in a round led by private equity group 24Haymarket, according to the Business Desk.
The spinout’s Polarfin product is based on research conducted by Christopher Kay at the Department of Chemistry. Kay discovered that a molecular chain featuring separate polyolefin and polar polymer components could help materials stick.
Polarfin additives will now be packaged for industrial customers. There is also demand for the product overseas in the packaging, construction and recycling sectors.
End uses for the formula might include improving the adhesiveness of paints or replacing the adhesive tie-layer used in many cling films.
Interface had previously received £500,000 from government-owned agency Innovate UK last year. In May 2016, Interface said it would look for seed funding of £1.5m, though the company has not confirmed whether 24Haymarket’s investment satisfies this target.
Phil Smith, CEO of Interface Polymers, said “We are delighted to have 24Haymarket and their investors on board.
“We have a fast-growing queue of customers waiting to trial our Polarfin additives so this funding will enable us to scale up production and further develop our value propositions across a diverse range of exciting applications.”
– Disclaimer: 24Haymarket is also an investor in Mawsonia, which publishes Global University Venturing.
