Environmental solutions specialist secures £500k NPIF funding, opens Lancashire laboratory
Maven Equity Finance, managed by Maven Capital Partners and part of the Northern Powerhouse Investment Fund (NPIF) has invested £500k in Advanced Bacterial Sciences Ltd (ABS).
ABS creates, manufactures, and sells biological solutions for a range of real-world pollution and maintenance problems. The funding will enable the company to commercialise its portfolio of products, sell directly to end users, as well as invest in continuous product development, patenting future technologies and scientific advances.
The scope of ABS’ bacteria solutions covers multiple large scale markets including: hospitality, sanitation, water management, agriculture, property management, and construction.
Headquartered at the Environment Centre, Lancaster University, the investment will also enable ABS to open a laboratory and office in Morecombe, Lancashire.
The new location will help to reduce outsourcing of third party bacteria creation and offer a more tailored approach to its clients’ needs. ABS will also create an innovation centre that will co-locate other complementary start-ups and researchers to carry out their research and innovation.
Debbie Francis OBE, chair of the Lancashire Enterprise Partnership, said: ’‘It’s great to hear that yet another Lancashire company has successfully secured equity investment from the Northern Powerhouse Investment Fund, which provides the opportunity for businesses within the region to realise their growth ambitions and create jobs.
“ABS is a perfect example of the entrepreneurial and innovative flair which we are so proud of within Lancashire. They are not only providing solutions which will allow them to access global markets, but also make a significant contribution to the Net Zero agenda.”
Ken Cooper, managing director at British Business Bank, said: “The low carbon and renewable energy economy is a key sector for the Bank’s regional funds as they support the region’s businesses with their growth plans.
“Today’s investment into ABS is a great example of how the right kind of investment supports both economic growth and our move towards a low carbon economy. The NPIF funds are open for business and looking for similar opportunities.”
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