FW Capital loans six figure sum to launch BioLoop
Specialist manufacturer Lankem has received a six-figure investment to support the development of a next generation bio-based surfactant.
Based in Dukinfield, Tameside, Lankem secured the loan funding from NPIF – FW Capital Debt Finance, which is managed by FW Capital and is part of the Northern Powerhouse Investment Fund.
The six-figure loan is supporting the launch of the new BioLoop range together with the creation of three new jobs.
Lankem was founded in 1999 and this year is celebrating 25 years in business. It is a rapidly expanding firm located in Dukinfield which supplies industrial surfactant products such as coatings, emulsion polymerisation, agrochemicals, textiles, industrial cleaning oils and lubricants.
Recently Lankem has focused on the development of a range of novel bio-based surfactants.
The funding is supporting the introduction of this new range of bio-based surfactants containing components that come from renewable sources.
Unlike many bio-based surfactants, these products offer excellent surfactant properties and can be used as more environmentally friendly alternatives to conventional synthetic non-ionics, such as alcohol ethoxylates.
Sean Hodgkinson, Director at Lankem said: “The funding from FW Capital is supporting the development of BioLoop and our launch to market. This is a very exciting time for everyone at Lankem.”
Laura Rees, Senior Investment Executive at FW Capital added: “The development of innovative products is critical for the future and BioLoop is a very exciting one that delivers on sustainability, without compromising on performance. This is a real game changer for the surfactant industry.“
Debbie Sorby, Senior Manager, the British Business Bank said: “Investments like this play a pivotal role in propelling businesses like Lankem towards their sustainability goals and the next stage of growth. NPIF funding not only fuels innovation but also plays a vital role in fostering local job creation, allowing businesses to take a step towards a greener and more prosperous future.”
The current NPIF investment phase has now completed with the British Business Bank launching the Northern Powerhouse Investment Fund II in March 2024.
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
