Envirogene raises £500K for environmental diagnostics

Interim funding round

EnviroGene Ltd raised £500,000 in an interim round of from a fund managed by RAB Capital plc, Finance Wales plc and its management, to further commercialise environmental diagnostics for informing investment decisions in the management of essential natural resources.

The company technology applies molecular diagnostics and nanoparticle tracing technology in the fields of water quality, groundwater bioremediation monitoring, and upstream oil and gas activities.

Now EnviroGene, launched with support from the Geoenvironmental Research Centre at the University of Cardiff, is seeking to raise a further £1 million over the next six months, and says it is in discussion with a number of parties.

“We’re delighted that our investors have shown confidence in the potential of EnviroGene and of our technologies,” said Alex Korda, Chairman, EnviroGene. “This round of funding will assist us in the continued commercialisation of our technologies, and in driving the company towards profitability.”

Amy Preece-Jones, Investment Executive at Finance Wales plc, said, “The successful commercialisation of the company’s water contamination tracking and tracing technologies, and the growing enthusiasm being seen within the industry for its oil exploration tools, show great promise for EnviroGene.”