Low Carbon Innovation Fund 2 (LCIF2) has invested in Adaptavate Limited as part of a capital raising round of over GBP1.3 million. Other investors include Counteract, One Planet Capital and Perivoli Innovations.
The company has also secured a grant of over GBP800,000 from Innovate UK under its Transforming Foundation Industries programme.
Adaptavate is developing Breathaboard, a low carbon, bio-based plasterboard whose sustainability credentials are superior to standard gypsum-based wallboards. The company also supplies Breathaplasta, a lime-based plaster that regulates moisture and improves insulation to deliver a healthier and more energy efficient environment.
