Geldards advises Development Bank of Wales on investment in Cardiff company turning concrete waste into cement

Geldards has successfully advised the Development Bank of Wales on its participation in a £10 million investment into Cardiff-based company Reclinker, to turn demolition waste into new cement.

Reclinker was successful in securing funds from the oversubscribed Series A funding round. The company will use the funding to scale its breakthrough low-carbon cement technology and grow production in South Wales, creating green skilled jobs in the region.

The investment is part of a funding round co-led by specialist climate tech investors Clean Growth Fund and AP Ventures. As well as investment from the Development Bank of Wales, other investors include Zero Carbon Capital, Kibo Invest and Cambridge Enterprise. The investment brings together international climate technology expertise with Welsh backing to support the commercialisation of a process already proven at industrial scale in Cardiff.

The Development Bank of Wales was advised on the investment by the Geldards Corporate team led by Associate Jamie East. Also advising on the investment was Corporate Partner Alex Butler.

Commenting on the deal, Jamie East, Corporate Associate said:

“We were delighted to work with Gareth and the team at the Development Bank of Wales on another investment into an innovative Cardiff business.  It is great to see leading home-grown technology having a platform on an international scale.”

Photo of Reclinker team, photo credit: Development Bank of Wales