Field Fisher Waterhouse advises cleantech business on venture capital funding
04 February 2010
Field Fisher Waterhouse LLP has advised cleantech business 2K
Manufacturing Ltd (2K) on a second round venture capital funding
and multi-stage funding agreement with investor Foresight
Group.
2K manufactures an environmentally friendly plywood substitute
board for the construction industry. Following an initial
investment at the beginning of last year which funded the opening
of the first manufacturing facility, Foresight has provided a
further venture capital equity investment to support future
expansion.
2K’s award-winning “EcoSheet” is made from recycled waste
plastics otherwise headed for landfill and is itself entirely
recyclable. Ecosheet offers substantial environmental, commercial
and operational benefits for its users, with the construction and
signage industries being the main target markets. A licensing
arrangement for the ground-breaking Powder Impression Moulding
(PIM) technology, a patented process owned by ERT plc, gives 2K
exclusive rights to manufacture and sell these products
worldwide.
Field Fisher Waterhouse corporate
partner Neil Foster led on the funding
and was assisted by corporate associate Tom
Ward.
The team has advised 2K on its initial venture capital
investment and on the IP licensing arrangements. The firm has a
strong client base in the green and sustainable sector and has also
advised on G24 Innovations, manufacturer of next-generation solar
cells and on the $50m investment by 4rae and Morgan Stanley.
Neil Foster said: “2K is growing rapidly, and this further
transaction will help it develop into an even stronger business.
The recycling of hard plastics requires new technologies and
techniques and so our leading IP and technology teams have also
been helping us. We are advising an increasing number of
cleantech clients and the firm as a whole is building considerable
expertise in this sector. In 2009, we completed 15 venture
capital deals, in a tough market, and 2010 looks even better.”
Foresight was advised by Martineau.
For further press information please
contact:
Louise Eckersley, PR Manager,
Field Fisher Waterhouse LLP on +44 (0)20 7861 4120
Margherita Orlandini, PR
Executive, Field Fisher Waterhouse LLP on +44 (0)20 7861 4995