Liquid sanitiser manufacturer Hybrisan has secured £500,000 equity investment from the Development Bank of Wales, private investors and a Smart Cymru grant from the Welsh Government to help in the fight against the coronavirus.
The investment will enable Hybrisan to purchase a new ‘electrospinning’ machine, that allows their liquid sanitiser – which is 99.999% effective in killing coronavirus without alcohol – to be spun into ultrafine fibres used for face masks.
Capital Law’s corporate team advised Development Bank of Wales on the deal.
Catherine Golledge, Solicitor at Capital Law, said:
“Welsh manufacturers are playing a key role in the fight against the coronavirus, so it’s crucial that they access the right level of support. To scale up the production of their innovative facemask filters, Hybrisan required significant investment. It’s been brilliant to help the Development Bank of Wales answer their call, and we look forward to seeing this business revolutionise the market in response to the current crisis.”
Sarah Smith, Technology Investment Executive for the Development Bank of Wales said:
“Cath and the team at Capital Law provided us with a swift, professional service with clear communication throughout. Their expertise in working with multiple stakeholders and investors to reach a successful funding round conclusion was invaluable.”
Read more about the deal here.