Earlier in March, MBM Commercial were delighted to assist Jiva Materials Ltd, complete a £750k seed funding round. As Calum Hamilton, Associate in MBM Commercial's Corporate Team noted:
"MBM were delighted to be able to assist Jiva in closing their seed funding round. It is great when a client has an exciting and dynamic business, but even better when it is one that is also looking to make a positive difference in the world. We are confident that Jiva will use this funding as the springboard to grow the business and we are very excited to be helping Jiva on their journey."
Read Jiva Materials' full Press Release below:
JIVA MATERIALS COMPLETES SEED INVESTMENT ROUND
Jiva Materials Ltd, the London-based sustainability start-up, has completed a £750k seed funding round led by Sky Ocean Ventures and supported by Sorbon Investments, Armstrong Capital Management, Venrex Investment Management and InnovationRCA. Jiva Materials Ltd was assisted by MBM Commercial LLP in these transactions.
The investment accelerates commercialisation of Soluboard® - a material designed to make printed circuit boards fully recyclable.
As the world becomes more connected, printed circuit boards (PCBs) are becoming ever more present inside our products.
18 billion square metres of PCBs are manufactured every year. The rising value of the precious metals within PCBs and an increasing global awareness of environmental issuesboth mean that efficient recycling is a necessity.
Jiva has developed a patented, competitively priced and fully recyclable PCB substrate, Soluboard®. This is intended to rival the industry standard, FR-4.
FR-4 is made from epoxy resin and fibreglass; this means that the only method of processing waste PCBs involves shredding and incineration to extract the precious metals within. This is a very inefficient process with substantial loss of these metals during reprocessing as well as releasing Persistent Organic Pollutants (POPs) into the environment.
The organic structure of Soluboard® means the non-toxic ingredients begin to delaminate when immersed into hot water. This allows the natural plant-based fibres to be composted, the remaining solution to be disposed of using standard domestic waste water systems and the electronic components to be removed for re-processing.
On a global scale, an estimated 50 million tonnes of Waste Electrical and Electronic Equipment (WEEE) was produced in 2019. This number shows no sign of decreasing and the UK contributes an average of 2 million tonnes to the fastest growing waste stream every year. Small domestic scale electronic products make up the majority of the weight of this WEEE, with 8% of the weight of these products coming from PCBs.
EU domestic appliance and white goods manufacturers have confirmed their interest in Soluboard®. Tighter regulations are being placed on manufacturers of electronics to put the responsibility of recycling firmly with the producer.
Jack Herring, CEO of Jiva Materials Ltd, said:
“All of us at Jiva are very thankful for the support from our shareholders, both new and old. We look forward to bringing Soluboard® to market by working with key players in the world of electronics. It is time for us to take responsibility for our products and the impacts that they are having on the planet.”
About Sky Ocean Ventures
Sky Ocean Venturesis searching for solutions to end the flow of plastic into the ocean. They are an impact investment fund investing £25 million over five years in ingenious ideas that millions of people across the world can embrace, enabling them to cut back on plastic and recycle more.
So far, they have an exciting portfolio of 21 high-potential start-up companies. They invest at an early stage, from pre-seed through to Series A. They nurture promising new solutions with expertise in brand-building, collaborations with their network of partners and presenting opportunities to test new ideas with Sky’s 31,000 colleagues and ultimately, their 24 million customers.
Sky Ocean Ventures is the first non-strategic impact investment fund launched by a FTSE 30 plc to tackle an environmental issue.
About Sorbon Investments
Sorbon Ventures is the venture arm of Sorbon Investments a family office with links to the building market. The aim of Sorbon Ventures is to build a portfolio of game changing and/or IP led businesses as part of an investment diversification strategy. The investment criteria is sector agnostic and encompasses early stage pre and post revenue businesses.
About Armstrong Capital Management
Armstrong Capital is a London based Asset Manager focused on the impact investment sector. Investments which Armstrong undertakes must support society to meet its fundamental needs of shelter, food, health, water and power generation in a cleaner and less resource intensive manner. Armstrong’s focus is to reduce the world’s reliance on non-renewable resources through clean energy, battery technology and sustainable resources.
About Venrex Investment Management
Venrex is a London-based Venture Capital firm that invests in early stage businesses with high growth potential. It manages a Fund dedicated to investing in exceptional individuals and businesses from the Royal College of Art, the world’s leading higher education institution for post-graduate art & design.
InnovationRCA is the centre for entrepreneurship and commercialisation at the Royal College of Art. It runs start-up and accelerator programmes for tech-based businesses and creative brands founded by Royal College of Art graduates and alumni. It also provides IP, patent and business support to students and staff developing innovative products and technologies.
About MBM Commercial LLP
MBM Commercial is an award winning commercial legal firm with a focus on working with high-growth companies in sectors including information technology, data, biotechnology, life sciences and healthcare. MBM provides a range of services including corporate, corporate finance, intellectual property, commercial property, dispute resolution, employment and company administration.