Gimv leads €5.4m capital increase in NovoPolymers NV

The capital increase will support the firm's expansion into Asian markets.

Gimv and Capricorn Cleantech Fund first invested €3m in the company in May 2009. SFPI-FPIM (Societe Federale de Participations et d'Investissement) joins as a new investor.

Company
NovoPolymers is a technology company specialised in developing photovoltaic encapsulant sheets, which are a necessary component of crystalline silicon and thin-film based photovoltaic modules.

The company has just launched a new range of products (NovoVellum MF01 and NovoVellum FW01) that provide a higher energy output and longer durability. It was founded by Johan Declerck in 2008 and is based in Antwerp.

People
Bart Diels, partner, led the deal on behalf of Gimv. Steven Levecke, investment manager, represented Capricorn Cleantech Fund, and Johan De Ketelbutter worked on the investment for SFPI-FPIM. Johan Declerck is CEO of NovoPolymers. 

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• Benelux
• Expansion
• Industrials
• Cleantech
• Gimv