Circularity Capital has continued to build its portfolio of European growth-stage businesses enabling the circular economy, with an £8m investment in P2i – a global leader in liquid repellent nanotechnology products.
Founded in 2004, P2i works with original equipment manufacturers (OEMs) to enhance devices by making them liquid resistant, providing waterproof protection, improving their reliability and enabling them to survive liquid exposure from everyday accidents. P2i’s range of innovative coating solutions delivers up to IPX8 lifetime protection without the need for mechanical seals or gaskets.
More than 1,000 times thinner than a human hair, the P2i coating reduces the number of devices being scrapped or returned due to water ingress, thus keeping products in circulation for longer.
Ian Nolan, partner at Circularity Capital, commented: “The scale of global e-waste defies comparison; every year we produce more weight in e-waste than the weight of 125,000 jumbo jets. And a significant proportion of these are needlessly wasted through water damage. Take smartphones for example; every day, more than 900,000 smartphones are damaged by water or other liquids. P2i enables manufacturers to solve this challenge by ‘designing-in’ waterproofing, repairability and longevity – a win-win for customers and the environment.”
“As a global leader in liquid repellent nanotechnology, P2i provides a simple and effective solution. Its pioneering range of nano-coatings offer class-leading protection against accidental water damage – from splash-proof barriers for high humidity environments, to fully IPX8-compliant heavy-duty waterproof coatings capable of outlasting the lifespan of the product.”
Renowned worldwide, P2i has protected more than 700 million devices worldwide with its unique coatings. Key customers include leading manufacturers of automotive components, medical devices, drones, IoT technology and consumer electronics.
Ian continued: “With P2i technology capable of keeping products in the value chain for longer, this investment is consistent with our hands-on approach of backing businesses that create value from a clearly-defined range of circular activities.”
Chris Saunders, Executive Chairman at P2i, added: “Announcing this investment marks a significant milestone in our corporate journey. The agreement will not only prove pivotal in supporting our continued global growth, but will also further accelerate the development of additional product offerings.
“We placed significant emphasis on partnering with an investor that brings more than just finance to the table – Circularity Capital’s specialist network and unparalleled insight in the circular economy was the perfect fit.”
Circularity Capital was established in 2015 with the mission to deliver value for investors by supporting SME growth and innovation in the circular economy. In addition to P2i, the Circularity Capital portfolio includes product ownership disruptor Grover, sustainable packaging manufacturer PackBenefit, AI technology specialist Winnow Solutions, energy efficiency expert Green Home Systems and rPVB producer Shark Solutions.
For more information about Circularity Capital, visit www.circularitycapital.com. To find out more about P2i’s range of liquid repellent nanotechnology coating solutions, visit www.p2i.com.