Transaction overview
We are delighted to announce the successful completion of our latest transaction, advising Chip[s] board which develops bioplastics from food waste, on the completion of its fundraise to support the next stage of its development.
Chip[s] board will use the funds to relocate staff and laboratories to Yorkshire, a central region for the supply of raw materials, and build a pilot plant to demonstrate production at scale.
About Chip[s] Board
Chip[s] Board uses proprietary technology processes to develop bioplastics and bioplastic composites, initially from industrial food waste, such as potato waste. These match the performance of conventional plastics whilst being both biodegradable and recyclable post-use.
Ciesco’s Role
Alan Matthews, Ciesco Partner, advised the company on the transaction and introduced Chip[s] Board to new investors, as well as existing shareholders. He has extensive operational and M&A experience in the sustainability space, having led numerous successful funding transactions. He was also behind successful fundraising rounds for Halosource, a clean water technology company and was formerly CFO and corporate development director at Anthesis, the leading global sustainability services provider and activator.
This transaction follows the recently completed deal announcements from Ciesco including the acquisition of San Francisco-based creative agency Pereira O’Dell by the largest European independent agency group Serviceplan, the sale of Rightspend, a SaaS-based marketing procurement technology platform to LDC Private Equity; the sale of Mediaxplain, the leading Amsterdam- based full-service media and marketing agency; and the sale of Mavens, the London based data and analytics consultancy to Kantar, the world’s leading data, insights and consulting company recently acquired by Bain Capital.
Testimonials
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"Sustainability is the core principle Chip[s] Board was founded on and is the driving force behind our need to improve the world we live in. Our philosophy is that a circular economy within waste management and material production will create a new sustainable model, utilising the abundant resources we currently have rather than continuing to process virgin materials. We’re thrilled to be able to move to the next stage in our journey following this fundraise and build a plant to demonstrate what we can do at scale."
"As the world has continued to become more environmentally aware in recent years, along with the finance industry’s heightened commitment towards supporting green projects, investment in cleantech has grown significantly. We’re seeing technology filling the void and highly efficient sustainable businesses such as Chip[s] Board being created – efficient in resources and efficient in their business model. Investors are also seeing the benefits of supporting the growth and development of these companies. We have every confidence that the team at Chip[s] Board will continue to go from strength to strength and demonstrate the enormous value of their product to address the environmental challenges we see today."