Microbial solutions Ltd (United Kingdom) - Jan 2008

unquote
01 January 2008

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Oxford Capital Partners (OCP) has led a £1.2m series-A financing round for sustainable wastewater treatment company Microbial Solutions Ltd, taking a significant minority stake in the business. Joining OCP in the round were existing investors H2O Venture Partners and the Rainbow Seed Fund, which have both previously backed the company with seed funding. OCP sourced the deal through H2O and was attracted to the investment due to the customer traction the business has generated in its first year of operations, as well as the fact that it has an on-going interest in companies that focus on sustainability. The new capital will be used to develop commercial relationships in preparation for the future roll out of Microbial’s technology.

Company

Microbial Solutions, a spin out from the Centre for Ecology & Hydrology, has developed a novel bacterial process for the treatment of toxic metal working fluids from the engineering industry. Current processes require the fluids to be transported offsite by tanker to specialist treatment facilities, which use expensive and energy intensive methods and yet still do not completely remove the residual oily waste, resulting in this being taken to landfill where its anaerobic degradation produces methane. Microbial’s method, conversely, works on-site in seven to 10 days and produces grey water that is safe to dispose of in the wastewater system without any methane being produced. The company has announced a partnership with industrial fluid provider Houghton Europe, which will see the two firms provide a complete supply and treatment service to major manufacturing companies using industrial fluids. Microbial has recently relocated to new offices in the DiagnOx facilities in Upper Heyford, Oxfordshire and was founded in 2007.

People

Dr Victor Christou led the investment for OCP and will join the Microbial board. Professor William Pope is the CEO of the company.

Advisers

Company - Dorsey & Whitney, Frances Doherty (Legal)Equity - Nabarro, Guy Heath (Technical/IT AdviceUnspecified)Equity - Nabarro, Barry Maytum (Legal)

Sourced from: UK & Ireland unquote" 362 (Feb 2008)