Plaxica raises £5m towards Teesside project

In the United Kingdom, Plaxica has raised a further £5m in equity funding from Imperial Innovations, Invesco Perpetual and NESTA Investments. Praxis has raised approximately £10m to date from its investors.  Philip Holbeche, Chairman of Plaxica commented “Since the Series A financing a year ago, Plaxica has made significant progress, including growing the company’s technical and commercial teams, expanding its intellectual property portfolio and establishing a second UK site in Wilton on Teesside that is focused on process development, scale-up and demonstration.