Venture Capital

Tees Valley Clean Tech Firm To Break Into Us After Multimillion-pound Funding Rounds

by business-live.co.uk posted 5months ago 164 views
Nova Pangaea has increased headcount significantly since the initial investment. : A Tees Valley clean tech firm is set to expand into US and Canadian markets on the back of multimillion-pound funding rounds. Set up in 2009, Nova Pangaea Technologies converts discarded plant biomass into natural biochemicals and biofuels, replacing the need for industries to use fossil fuels. The firm, based at Wilton, Redcar, has seen significant growth in the last year, as a result of its two funding rounds with the Northern Powerhouse Investment Fund (NPIF), including a 45% rise in staff numbers since January 2020.