HTGF sells MinCell stake in management buy-back

HTGF originally invested approximately €500,000 in the company in order to finance MinCell's technology to the point of productivity. The venture capital investor stated it had fulfilled its task as seed investor and made a profit on its divestment.

MinCell stated that entry into the global cellular glass market, which has a value of €1.4bn, would now be possible.

Company
Founded in Weimar in 2010, MinCell (short for mineral cells) develops methods for the production of foam glass granulate and slabs. These are used in structural and civil engineering, as well as road and landscape construction.

Foam glass is a lightweight insulating construction material, which has been on the market for decades as a niche product due to its high price. MinCell claims it can reduce production costs to make foam glass available to a wider market.

People
Andreas Olmes is an investment director at HTGF. Joachim Koch is the CEO of MinCell.

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