Tees Valley chemicals firm secures £860k investment

A Tees Valley chemicals business has secured an £860k investment from NPIF - Mercia Equity Finance and UK Steel Enterprise (UKSE).

Based in Redcar, Micropore Technologies specialises in chemical technology to create stable emulsions and eliminate waste for pharmaceuticals, household products, agrochemicals, food and drink.

Founded as a spin-out of Loughborough University, Micropore has a US sales office in Raleigh, North Carolina as well as its North East England base.

The investment will enable the firm it to expand its local manufacturing facility as well as its business development team.

Micropore CEO Dai Hayward commented: “After years of patient technology and product development Micropore has proved its products and markets and is ready for rapid growth. New investment from NPIF – Mercia Equity Finance, together with continuing investment by UKSE provide the vehicle to achieve those global growth ambitions.”

Simon Crabtree, Investment Manager at Mercia, added: “We think Micropore’s technology is a fine example of British engineering and that it provides an effective and scaleable solution for its target customers.

“This funding will allow the company to expand its reach into new geographical areas and new market sectors.”

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