Plaxica receives investment to develop polylactic acids

Plaxica has received funding to develop acids from Imperial Innovations, alongside existing shareholders Invesco Perpetual and NESTA Investments.

Plaxica is developing types of polylactic acid, a biopolymer made from renewable and sustainable resources.

Innovations and Invesco Perpetual each invested £2.24m, and NESTA committed £0.52m.

To date, Plaxica has raised around £10m from its investors.