Press Releases
P2i Ltd
July 2009
ICON Corporate Finance raises £4.1m for P2i Ltd to exploit opportunities in nano-coating technology worldwide
P2i Ltd, the world leader in liquid-repellent nano-coating technology, has raised £4.1 million to support its accelerating commercialisation and international growth.
P2i was established in 2004 to commercialise liquid-repellent treatments developed by the Ministry of Defence. Its revolutionary technology helps customers protect and improve a wide and growing range of products including performance textiles (such as hiking and military boots; running and golf shoes), also hearing aids, laboratory consumables such as pipette tips and a wide range of filtration products.
This Series C funding round comes as the company accelerates its growth across a wide range of markets. New investor Swarraton Partners led the round and, along with Naxos Capital Partners, provided most of the funds. Existing shareholder Unilever Ventures also participated.
Carl Francis, Chief Executive of P2i commenting on the deal, said: “ICON did a great job for us, they are extremely well connected and were invaluable in helping us focus our time and efforts on the right organisations and people. They really lived up to their reputation as being one of the best and most proactive advisers within the tech investment community. This substantial new investment, particularly in light of today’s tough fundraising environment, is a clear endorsement of our leading position in liquid-repellent nano-coating technology. It will enable us to exploit the international and multi-market potential for P2i and underpins our ability to work on an equal footing with some of the world’s leading industrial, scientific and consumer brand players.”
On his new shareholders, Mr Francis added “We are delighted to bring high quality investors such as Swarraton and Naxos on board. All of our shareholders, which include Porton Capital, Unilever Ventures, and Ploughshare Innovations, have great track records in helping companies like ours realise their full potential.”
The new money will be invested in four main areas:
- operational infrastructure and facilities;
- marketing and sales capacity, including further development of the company’s US organisation;
- capital equipment; and
- R&D
P2i’s liquid-repellent nano-coating process has already been successfully applied to a wide range of products and markets, but holds the potential for further commercialisation in many more – for example in engineered textiles, protective gloves, hospital gowns and wound care, plus industrial lenses and solar cells.
In consumer sectors the presence of P2i’s technology is indicated by its consumer brand, ion-mask™, now available in premium products from Ecco, Hi-TEC, Van Dal and leading uniform/workwear boot brand MAGNUM. P2i is also in discussions with a number of other world leading footwear brands, as well as several premium-brand sunglass manufacturers.
