Parx Materials N.V. (Euronext: MLPRX) has received a capital injection of EUR €1 million (approx. £833,000 ) for expansion and scale-up.
This investment allows Parx Materials (as of January 29 the new name of the company formerly named Parx Plastics) to expand its team and make the required investments for the scaling up of the production of Saniconcentrate.
The Belgium company Lausha N.V. is making the capital injection and is obtaining an equity stake of 12.5 per cent.
With the recent developments, Parx says it is making exciting steps in the development and commercialising of its unique antimicrobial and antibiofilm technology.
On December 20 the company was able to announce a signed cooperation agreement with PepsiCo in Purchase, New York and it is seeing excellent adoption of its technology in the supermarket channel in the UK and elsewhere.