Promethean Particles Announces Closure of £8M Series A Investment Round
Summary
Their unique architecture gives them an exceptionally high surface area and customizable pore sizes, which allows them to trap and store gases and liquids efficiently. MOFs show significant promise as a next generation solution and Prometheans manufacturing technology enables their production at unprecedented scale and cost-effectiveness. I couldnt be prouder of the Promethean team for all that they have accomplished to help make this investment a reality.The company has developed a proprietary continuous-flow reactor that not only dramatically improves the throughput and cost of MOF production, but also increases process reliability and consistency, without sacrificing critical quality parameters. Promethean currently produces a wide portfolio of MOFs for various customer applications including carbon capture and storage (CCS), biogas upgrading, water harvesting and gas separation and storage.Dr Marina Fuentes, investment manager at Mercia Ventures, said, Promethean Particles is uniquely positioned to capitalise on the fast-growing MOF market through their innovative manufacturing reactor technology, which addresses the bottlenecks of cost and scalability. Promethean offers new capabilities to scale manufacturing of MOFs cost-effectively, which is a critical ingredient in unlocking the potential for these materials to gain widespread acceptance.The new investment will enable the Nottingham-based company to build a scaled-up manufacturing facility, expand the team, and implement further projects that demonstrate the potential of MOFs in energy transition applications.The full press release can be found here.