We saw the news recently that Nova Pangaea had received some substantial investment from the UK government’s Future Fund and also your existing investors, tell us about that?
I’m delighted to say that we have raised a further £900,000 (€1.012 million) from investors following some very successful trials of our technology. This latest funding for Nova Pangaea has come from NPIF Mercia Equity Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund; the UK Government’s Future Fund; and existing private investors. We are now aiming for a Series A funding round later this year.
How did the COVID-19 pandemic affect the business and how did you handle it?
We continued to work on expanding our commercial pipeline, which is now looking robust and comprehensive. We did have to furlough some of our operational staff, but we have been able to bring everyone back safely due to a rigorous risk assessment and implementation of COVID-19 onsite procedures. As the demonstration plant had been shut down, we went through a comprehensive recommissioning process and operations restart...
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