Green water treatment firm bags £2.3m to enhance technology
- Business Cloud
A Birmingham company which has developed a nature-based wastewater treatment solution has raised a further £2.3m to help it enhance its technology.
The latest investment in I-Phyc – which featured on our EnviroTech 50 ranking – was headed up by Mellby Gård AB, a privately-owned Swedish company targeting investment in promising water technologies.
It also included the MEIF Proof of Concept & Early Stage Fund, which is managed by Mercia and part of the Midlands Engine Investment Fund, and private investors.
I-Phyc’s technology is already in operation at water treatment plants at Weston-super-Mare and Broadwindsor in Dorset, and will be used in a new plant at Croxton Kerrial in Leicestershire.
The company has seen a major increase in enquiries in the past year and is now in discussions with all the major UK water companies as well as operators in the US and Scandinavia.
The latest investment will allow I-Phyc to enhance its technology, bring new sites on board and firmly establish its position as the market leader in chemical-free water treatment systems.