Tees Valley based cleantech company Nova Pangaea Technologies (Nova Pangaea) has experienced significant growth as a result of its two funding rounds with the Northern Powerhouse Investment Fund (NPIF), including a 45 per cent increase in staff numbers since January 2020
The company, which has invested in a number of senior recruits in recent months, taking its total full-time members of staff to 17, has also secured a string of plant trials with large forestry, agriculture and oil and gas multinationals. It has also secured a large engineering project in Pakistan and is set to enter the US and Canadian markets.
Nova Pangaea’s world-first patented technology, processes ‘non-food’ plant residues, such as sustainable wood, straw and other crop residues, and uses it as a basis for the production of biocarbons, biochemicals, biopolymers or drop-in for advanced biofuels such as bioethanol, which can be blended into petrol. The innovation not only offers the potential to significantly cut carbon emissions and reduce reliance on oil without using land or crops suitable for food, but also provides new sources of income for industries which produce large amount of plant residues.
Source: Private Equity Wire
