Hexigone Inhibitors secures £1m to expand its anti-corrosion technology business.
The funding round was backed by the Development Bank of Wales, angel investors, and Innovate UK.
Hexigone Inhibitors develops smart corrosion protection technologies for metal surfaces across global industrial sectors.
Hexigone Inhibitors has secured £1m in funding from the Development Bank of Wales, angel investors, and Innovate UK. The capital will enable the company to scale commercialisation of its anti-corrosion technology and expand its market reach globally.
The firm has developed Intelli-ion, a chemically intelligent micro reservoir additive that releases inhibitors on demand. This approach arrives as industries seek alternatives following the EU ban on hexavalent chromate.
The business has grown its headcount and established international partnerships across four continents. Support from the funding package will drive further recruitment and distribution efforts.
Investor perspective
"The funding package from the Development Bank and other co-investors will help Hexigone achieve full-scale commercialisation and distribution of the product. This makes it a perfect fit for the Wales Technology Seed Fund which supports innovative University spin-out companies and helps them bring their products to market, creating high value jobs and wealth in Wales."
Alexander Leigh
Senior Investment Executive, Development Bank of Wales
Use of funds
- 01Grow the team
- 02Expand into international markets
Investors
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About the company
Hexigone Inhibitors
Hexigone Inhibitors develops smart corrosion protection technologies for industrial metals.