Acuity advises Phytoponics on fund raise
Key Contact: Paul Lowe
Author: Tom Saunderson
Acuity is pleased to have advised Phytoponics on a £500,000 fund raise which will be used to scale commercial trials. The £500,000 investment comes from a number of existing shareholders, together with match funding provided by the Development Bank of Wales.
Phytoponics specialises in the design, development and supply of Deep-Water Culture systems for large scale sustainable hydroponic crop production. Its headquarters are located in Abersytwyth, with a technical research and development facility in Yorkshire in the Stockbridge Technology Centre which is renowned for horticultural research and agricultural innovation.
Corporate partner Paul Lowe and associate Tom Saunderson led the transaction.
Phytoponics Co-Founder Adam Dixon said “we’re thrilled to have secured this funding which provides us with the necessary operation cash to scale up trials of our technology whilst enabling us to further innovate as we move closer to realising the commercial potential of what we’ve developed. I’m excited for the future as we move a step closer to achieving our mission to deliver the sustainable benefits of hydroponic agriculture at scale through the global deployment of our substrate-less Deep-Water Culture growing solutions.”
Paul Lowe, Corporate Partner at Acuity Law said “We have worked closely with Phytoponics since their incorporation and this is the next stage in their development journey. The management team has a great mix of skills and is developing a really exciting new business with a technology which is destined to provide massive benefits to the food growing sector. Phytoponics is one to watch.”