- Type of finance
- Business need
Developing a tech venture
“The investment is recognition of the hard work and dedication of the Hexigone team, which will be growing rapidly to execute our commercial expansion and manufacturing scale-up.”
Corrosion costs the world economy 2.5 trillion dollars every year and is the root of many environmental and social challenges across the globe. Hexigone, a Port Talbot based manufacturing start-up, has developed a new additive for metal coatings that is safer and can be up to ten times more effective than chrome-free alternatives, protecting buildings, cars, and aeroplanes for longer.
Hexigone secured initial investment in 2019 from the Development Bank of Wales and angel investors Phil Buck and Andy Lewis, as well as an innovation loan from Innovate UK; totalling over £1 million.
In 2021 it received an investment of £894,000 from the Development Bank, other existing investors, and new investors. The Development Bank has invested just over £407,000 in Hexigone to date. The funding Hexigone has secured is helping it to commercialise its solutions with customers around the globe, offering superior protection and a sustainable solution to key industries worldwide.
Read the press release to find out more.