Hybrisan secure investment to aid COVID 19 fight
Tuesday 19th May 2020
Port Talbot-based Hybrisan have secured £500,000 equity investment from the Development Bank of Wales, private investors and a Smart Cymru grant from the Welsh Government, in a deal advised on by Leanne Thomas, Director of Greenaway Scott (part of the GS Verde Group).
Hybrisan manufacture liquid sanitiser and use advanced nanotechnology to produce highly advanced material, impregnated with the liquid sanitiser for use in high quality personal protective equipment (PPE) for the NHS and other frontline workers. The liquid sanitiser developed by Hybrisan is 99.999% effective in killing coronavirus without alcohol, even on surfaces.
Established in 2014 to conduct research in the life sciences sector, Hybrisan has temporarily moved all its production to combat Covid-19. Hybrisan is now working closely with Welsh Government and other PPE manufacturers to scale up production of electrospun filters for use in facemasks.
Hybrisan's Technical Director, Dr Chris Mortimer is taking the lead on scaling up production of their products for use in PPE, and said: "The help we have had from the Development Bank and Smart Cymru is integral to our efforts to help fight Covid 19. With the support we have received we have been able to order our first electrospinning machine, which completely transforms the plans of the business and allows us to develop nanofibres fit for face mask filtration, up to FFP3 level".
On praising the support received during the fund raise, Dr Mortimer went on to add:
"We were delighted with the services provided by Greenaway Scott. Leanne Thomas and her team ensured the process ran smoothly from start to finish. The communication was brilliant, and their advice and support were excellent. We will certainly use their services in the future"
Speaking on the completion of the deal, Leanne Thomas, Director of Greenaway Scott, said: "We are delighted to have assisted Hybrisan Ltd on their recent fund raise, and it was a pleasure dealing with the Directors. Hybrisan are a great example of an innovative welsh manufacturer, who are agile enough to pivot and respond to needs, which in this case, could not be more essential. We look forward to seeing them get to work in the fight against COVID-19."
Greenaway Scott is part of the GS Verde Group, a multidiscipline advisory business that specialises in advice on mergers and acquisitions. The Group provides legal services and corporate finance advice through Verde Corporate Finance. The legal team at Greenaway Scott was recently rated the most active M&A advisors in Wales by Experian.
To speak to Leanne Thomas, or the corporate team at Greenaway Scott about raising finance, please contact the corporate team on 029 2009 5500 or email email@example.com