Gabriel IS are delighted to announce the completion of an exit deal with Scottish biotech business CuanTec. This follows on from the company securing a significant investment from Hive Energy Ltd., one of the UK’s largest renewable energy and cleantech project developers.
CuanTec has developed a unique and proprietary method of converting shellfish waste into a multitude of high impact products including naturally anti-microbial, biodegradable packaging suitable for single-use plastic replacement! CuanTec’s core technologies can help address two of the biggest environmental challenges facing global communities: Plastic pollution and carbon emissions.
Capitalising on their Scottish location and the size of the country’s shellfish industry, CuanTec have proven themselves to be real disrupters in biotech and a positive force for change, contributing to the circular economy. Several major food retailers are interested in CuanTec’s non-plastic packaging solutions.
The company was established by its founders based at Strathclyde University. Gabriel Investments led an investment into the company alongside Scottish Enterprise through the Scottish Co-Investment Fund, and the University through its Strathclyde Entrepreneurs Fund, providing equity investment and support to the startup team.
Gabriel gatekeeper, Gill MacAulay, is thrilled at this major step forward for the Company, “We are delighted to see CuanTec entering this new, exciting period of growth, and we wish them continued success as they scale-up.”
CuanTec CEO Craig Sterling commented “I am pleased to have had the support and insights of the Gabriel team as we have negotiated this scale up funding round, as well as the original investment to launch the company.”
Hive Energy CEO, Giles Redpath commented: “I’d like to thank the initial investors who had the vision to see the potential for CuanTec. I look forward now to working with the team to help take the business to the next stage”.
For more information about CuanTec, visit their website: https://www.CuanTec.com