Foresight invests £749k in University of Nottingham spin-out Promethean Particles

Foresight Group has invested £749,000 in Medilink East Midlands member Promethean Particles, a nanomaterials manufacturer. The finance boost will allow the firm to create new jobs, scale its production capabilities and enter untapped global markets.

The investment has been made using finance from the Midlands Engine Investment Fund and is part of a £1.25m funding round led by Foresight and supported by the University of Nottingham, East Midlands Early Growth Fund (managed by the British Business Financial Services), and other existing investors.

Promethean was founded in 2007 as a spin-out from the University of Nottingham, to commercialise an innovative technology based on the research of Professor Ed Lester.  The company designs and manufactures high-specification nanomaterials which carry specific chemical and physical properties.