Reaxa Completes Second Round Funding
Catalyst technologies company Reaxa has completed second round financing for the next stage of its commercial expansion programme. The Manchester-based company received Venture Capital from the North West Business Investment Scheme managed by YFM Private Equity (YFM), Rising Stars Growth Fund II managed by Enterprise Ventures (EV) and private investors via Reaxa's corporate finance advisors Acceleris plc. The new funds raised will be targeted to expand commercial resources and bulk-scale production of the EnCat(TM) [polymer encapsulated catalyst] range, which has been trialled by over 250 customers in the two years since the company was formed.
"Closing this new funding, alongside our continuing investors, allows scale-up of our catalyst and scavenger products for use in much larger commercial pharma applications", commented Reaxa CEO Dr. Pete Jackson. "We now have secured the support to complete the transition from a catalysis R&D company to a commercial scale operator focused on growth. Increased scale for Reaxa means higher volume process intensification for customers with significant cost and environmental impact benefits".
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