Successful funding round for cleantech group following Corporate Partner’s guidance

30th October 2023

Immaterial, the Cambridge-based climate-tech company providing advanced material and technology solutions, has recently closed a successful funding round led by SLB and which included a diverse investor group, ranging from Global Venture Capital providers like UK based AP Ventures, Trirec from Singapore, US based Ultratec and other strategic investors such as Chevron Technology Ventures, Spanish conglomerate CEPSA, Japanese Utility group JERA and existing angel investors.

Immaterial’s metal-organic frameworks can be used in a variety of green applications including carbon capture, and hydrogen storage. The Cambridge University spinout was advised by Corporate Partner and Head of Cambridge Office Inger Anson. Inger and the Corporate team provided support throughout the transaction.

Funding rounds such as this attract new talent to the business while achieving milestones when it comes to product development.

Mohammed Khan, CEO of Immaterial “I’d like to thank Inger Anson and the Corporate team at HCR Hewitsons for their support and guidance. We were particularly impressed with the innovative approach they took to facilitating the structure of the deal when faced with challenges.

“We’ve been able to achieve key watershed moments in the development of our products and technology offerings, and this is thanks to Inger and her team at HCR Hewitsons. Their deep understanding of the industry, along with the challenges faced, shows them to be leaders in this type of transaction in the sector.”

Inger Anson said: “Immaterial has a strong vision for the future – we’re excited to see what they’ll achieve with this new investment. Green technology is essential for a sustainable future, and we’re very pleased to have played a part in helping them realise their ambitions. This is a Cambridge deal through and through; innovation continues to thrive here.”