Coatings specialist Oxifree secures funnding to help further expansion in mining

first_imgCorrosion prevention specialist Oxifree Global has secured funding from UK venture capital firm Octopus Investments, enabling it to invest in expanding its patented coatings offering within the mining sector, whilst also providing the Frimley-headquartered business with the ability to roll out additional resources to support its global distribution and end user base. The business will also supplement existing well established operations in Houston, Texas with additional facilities in Europe and the Far East. Oxifree is a global provider of solutions to complex corrosion and contamination situations in many sectors. Oxifree metal protection products have been used to protect various conveyor and shaker equipment across the world for companies such as Vale, Samarco, BHP Billiton, AngloGold Ashanti, Anglo American and Sylvania Mining.Oxifree says its coating products have been proven to extend the life of conveyor pulley and bearing systems by as much as 900%. Oxifree currently has a presence in over 30 countries across seven continents. Ed Hall, one of the Founders and MD of Oxifree, comments: “We are delighted to announce this significant investment by Octopus which will enable us to expand our services within the mining sector. Since we began trading in 2009, Oxifree has grown significantly and we intend to use this investment and support from Octopus to help accelerate us on the path to become a leading player in the corrosion prevention industry. We are also excited by the opportunity this investment gives us to provide additional support to our excellent Global distributor and end user base.”Oxifree’s principal business activity is providing patent protected polymeric resin coatings and installation equipment for clients where existing solutions are not sustainable long term or financially viable. “Some of the key characteristics that together make Oxifree so special include it being wholly organic and environmentally friendly, quick to apply, highly durable, easy to remove, reusable, requires minimal surface preparation, is long lasting and contains active corrosion inhibitors within its formula.”Jane Vinson, a member of the Ventures team at Octopus Investments, comments: “At Octopus our goal is to find strong, talented management teams, with an innovative product, operating in a large market – and this is the case with Oxifree. What’s more, in this business we see a strong potential to expand into complementary markets, making this precisely the type of business we look to back. The worldwide sales already being achieved by Ed, Nigel Thomson the Group Sales Director and their team are promising, and we look forward to working with the business closely in the coming years.”last_img

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