LIGNIA secures extra £5m funding
1 July 2019South Wales-based modified timber manufacturer LIGNIA Wood Company has revealed ambitious growth plans, having secured up to £5m development capital funding from its institutional investors.
The equity investment, which brings LIGNIA’s total fundraising to £17m over the past three years, will support the planned expansion by funding working capital and the additional capital expenditure needed to increase production capacity.
The company established its Barry site three years ago and recently made three high-profile appointments to its leadership team, as it looks to commercialise LIGNIA in the UK, USA and Europe.
LIGNIA modifies FSC-certified softwood to enhance the material’s stability and durability, creating products including LIGNIA, LIGNIA Fire and LIGNIA Yacht.
“This new investment from our institutional investors will support the expansion needed to meet the growing demand for LIGNIA products, and is a great expression of confidence in the LIGNIA team,” said Hans Ng, LIGNIA's CEO.
