Bird & Bird ATMD LLP acted for ABC Impact, a Singapore-headquartered private equity firm, as the lead investor in the £20 million Series B fundraising round of British biotechnology company Polymateria Limited.
Polymateria has developed biotransformation technology to address plastic pollution and its technology can fully biodegrade plastic items into water, carbon dioxide and biomass without leaving microplastic or toxic residue.
Polymateria’s customers include Twickenham Rugby Stadium, the Chicago Marathon and 7-Eleven Taiwan. The proceeds of this fundraising round will be used to accelerate Polymateria’s commercialisation of technology worldwide, increase market penetration and expand into new markets such as Asia.
The Bird & Bird ATMD LLP team comprised partners Marcus Chow and Anan Sivananthan, counsel Jolie Giouw, senior patent attorney Tan Hui Leng and associates Luke Oon, Sally Kim and Randy Hong.
