LCIF, which is operated by the University of East Anglia and supported by the European Regional Development Fund, has made early stage investments in Weeding Technologies, iSotera, Breathing Buildings, Trident Energy and Teraview. To date LCIF has raised almost £5 million for East of England SMEs which are developing low carbon processes and products.
The latest round of investments will assist:
- Weeding Technologies on the development of its groundbreaking weed killer Foamstream, which is made from 100 per cent natural, renewable plant oils and sugars and uses a combination of hot water, steam and natural foam to kill weeds
- Cambridge-based lighting network company iSotera to develop its intelligent LED lighting system which is both energy efficient and faster, cheaper and safer for contractors to install
- University of Cambridge spin out Breathing Buildings to develop and commercialise its innovative e-stack natural ventilation system using the principles of low energy mixing ventilation in winter and natural upward displacement ventilation in the summer
- Trident Energy, an independent developer of enabling technology for the offshore renewables industry, to develop a low cost, high reliability generator that converts linear motion directly into electricity
- Teraview, a company at the forefront of global developments in terahertz light, to create terahertz instruments which can generate, detect and manipulate radiation to characterise a wide range of materials
LCIF initially invested in Teraview in December 2011 with a further investment in 2012. The company has received further funding from the Technology Strategy Board to help transition its technology from the lab into production environments.
The Mills & Reeve venture capital team is renowned for its specialist experience and expertise in advising and assisting on complex syndicated investments in the early-stages and developing high-tech businesses. Led by corporate finance partner, Zickie Lim, the team has been working closely with LCIF and its Fund Manager Turquoise International since its launch in 2010 and has advised the fund on investments and follow on investments in seven of its portfolio companies.
John French, CEO of LCIF, said: “2012 has been a busy year for LCIF and Mills & Reeve’s expertise in the early stage investment field has been invaluable in bringing these transactions to a successful close”.
Zickie Lim, who was assisted by corporate finance solicitor, Pippa Pearce, on the latest investments, said: “Early stage VCs such as LCIF are vital to providing SMEs who are developing innovative energy efficient technologies with the support they need to help boost the region’s economy. We wish LCIF and its portfolio companies every success.”
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For further information contact:
Zickie Lim, Partner, Mills & Reeve LLP
Tel: 01223 222482
Hayley London, Marketing Communication Executive, Mills & Reeve
Tel: 01603 6283438
Full details on the Fund can be found at www.lowcarbonfund.co.uk
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