University of Manchester spinout Watercycle Technologies has raised 拢4.4 million in a Series A investment round.
The ClimateTech business was co-founded by Dr Seb Leaper and Dr Ahmed Abdelkarim and its technology is leading the charge to a net zero future.
Par Equity led the syndicate, alongside Greater Manchester Combined Authority, Aer Ventures and the University of Manchester Innovation Factory.
The investment will enable Watercycle to rapidly scale up and commercially deploy its technology to deliver sustainable, low-cost, high-yield mineral recovery systems.
Watercycle鈥檚 mineral recovery systems have received international traction from government bodies and businesses on every continent.
The goal of the company’s proprietary technology is to mitigate the growing critical mineral supply risks and foster a circular economy in which waste is converted into value.
CEO Dr Seb Leaper, who recently took part in a 老九品茶Cloud roundtable of Greater Manchester life science and GreenTech companies, said: 鈥淚t鈥檚 fantastic to have backing from such an excellent syndicate of investors who are strategically positioned to help Watercycle rapidly scale.
With the continued support of our initial backers, the University of Manchester and Aer Ventures along with new financial support provided by DeepTech veterans Par Equity and local champions, GMCA, Watercycle is in a stronger position than ever to deliver on its mission to provide the world with a sustainable supply of critical raw materials without which there is no sustainable future.鈥欌��
Leaper is pictured alongside his co-founder Dr Ahmed Abdelkarim next to the recently produced 100kg battery-grade lithium carbonate.
CTO Abdelkarim said: 鈥淲e are excited to be taking the company forward to ton-scale production of battery-grade minerals. Our achievements to date are a testament to the dedication, brilliance and drive of our remarkable team.鈥欌��
Elizabeth Young, investment manager at Par Equity, said:听鈥淭here is an incredible wealth of talent and innovation emerging from universities in the North of the UK, with Watercycle Technologies serving as a prime example from the University of Manchester.
鈥淲e’re proud to support WT’s growth through investment and by connecting the business with experts from our network.”
鈥淏y supporting foundational technologies like Watercycle, we strengthen the UK鈥檚 innovative ecosystem and pave the way for the climate solutions of tomorrow.
鈥淲T is a perfect illustration of the talent in the North, and we hope to see this success inspire a new generation of startups in the region.鈥�
Greater Manchester Mayor Andy Burnham said: 鈥淭his investment is a great example of how we’re supporting local innovation to strengthen Greater Manchester鈥檚 position as a leader in the low-carbon economy.
鈥淚t鈥檚 also about creating skilled jobs and building a greener, more sustainable future for Greater Manchester. Our investment in homegrown businesses like Watercycle Technologies reflects our commitment to becoming a cleaner and more prosperous city-region.鈥�
Paul Dudley, managing partner from Aer Ventures, added:听鈥淲e are delighted to have played a role in supporting Watercycle over the past couple of years. In this time the business has developed its cutting-edge technologies rapidly and can now provide important solutions to a range of customers in the critical metals sector.鈥�
Roisin McCallion, business development and investment director for the University of Manchester Innovation Factory, commented: 鈥淭his Series A investment marks a significant milestone, not only for the Watercycle Technologies team, but also for The University of Manchester鈥檚 wider mission to drive impactful innovation.
鈥淭heir pioneering technology has the potential to make a profound contribution to addressing critical mineral supply challenges and advancing the international transition to green energy. We look forward to seeing the company scale its solutions globally and make a lasting impact on the circular economy.鈥�
Watercycle Technologies is based in Manchester at the Graphene Engineering Innovation Centre (GEIC).