Foresight VCTs invest £5 million in antimicrobial technology developer Copptech

 

• Copptech develops environmentally friendly antimicrobial technologies that kill bacteria, fungi and viruses
• $4.7 billion per annum global market driven by increased hygiene awareness and focus on environmentally friendly antibacterial solutions
• Highly scalable business model with proven commercial traction in the Latin American market
• £5 million investment from Foresight VCTs to accelerate the growth of business in Europe and North America

05 October 2022: Foresight Group (“Foresight”), a listed private equity and infrastructure investment manager, has completed a £5 million growth equity investment into Copptech (the “Company”), an innovative and rapidly growing anti-microbial technology business founded in 2016 in Chile.

Copptech develops additives that use copper, zinc and organic active ingredients which kill bacteria, fungi and viruses on contact. Applications for the technology are wide ranging and include diminishing the transmission of viruses in medical facilities, extending the shelf life of perishable goods, reducing discolouration and odour in clothing and providing mould, fungi and termite-resistant properties to building materials.

Copptech sells its antimicrobial formulations to airlines, construction materials suppliers, textiles businesses and footwear manufacturers.  The Company has proven its business to be highly scalable across Latin America and is already seeing meaningful traction in the large North American and European markets, where it is expanding its sales teams and operations.

Antimicrobial ingredients had a global addressable market of $4.7 billion in 2020, driven by spending in the healthcare and defence sectors, as well as apparel manufacturers. The market has grown at a combined annual growth rate of 9.8% since 2013, with growth accelerating due to increased hygiene awareness following the COVID-19 pandemic.

Several members of senior management are joining the Company at the outset of Foresight’s investment. These include new CEO Graham Sanders, with 25 years’ experience in the chemicals sector, Chair Jeffrey Halliwell, formerly the Managing Director of a large European antimicrobial business and Non-Executive Director Rasih Ozturkmen, with expert knowledge of the textiles industry.

Commenting on the investment, Hugh Minnock, Investment Director at Foresight, said: “Copptech represents an exciting investment opportunity in a highly scalable business, with proven commercial traction and a clear strategy to expand. Strong ESG credentials and tailwinds brought about by the COVID-19 pandemic and a heightened focus on hygiene make us optimistic for the future of the Company and sector as a whole.”

Jeff Halliwell, Chair at Copptech, added: “I am delighted and very excited to be appointed as Chair of Copptech. Copptech brings a unique set of scientific solutions to achieving anti-microbial protection built into a huge range of products and applications. Copptech has been an amazing success in Chile and the Americas and now this new investment from Foresight will enable us to offer these solutions on a truly global basis. We look forward to taking the market by storm.”