FIPP investee Alusid is set to IPO.......2 May 2023 08:22
Exciting news from today's Times (FIPP own 38.9%).....
Https://www.thetimes.co.uk/article/recycled-waste-firm-alusid-weighs-up-uk-float-x8swsw53v
"Recycled waste firm Alusid weighs up UK float
Alusid, a company that makes high-quality tiles from recycled waste, is considering a flotation in London.
The plans are at an early stage and the timing has yet to be confirmed but London is the preferred location for the market debut, which could raise about £2 million for expansion.
Alusid, which could be valued at about £10 million if it joins the London market, has just produced its first range of mass-manufactured tiles with Topps Tiles as part of a multi-year deal signed last year.
Alasdair Bremner, the company’s chief executive, said: “Alusid is exploring options to float. Although we are a UK green technology company the opportunity is global: the tile market alone is worth nearly $380 billion a year.
There is strong demand worldwide for more sustainable building materials and an IPO would help us expand, in terms of broadening the applications for our technology and support growth in the UK and beyond.”
He and David Binns, now the creative director, founded the company after being awarded an Arts Council grant to explore the “aesthetics of waste” while working as academics in the ceramics department at the University of Central Lancashire.
Alusid has a small factory in Preston producing handmade tiles and surfaces such as table tops. Customers include Parkside Architectural Tiles, the commercial arm of Topps Group, Starbucks, Pret a Manger, H&M, the BBC and the Stonehenge visitor centre. The company is developing a range of floor tiles following a collaboration with the global minerals group Imerys.
The innovative manufacturing process grew out of Binns’s work creating sculptures from ceramic aggregates combined with recycled crushed glass. Its patented processes require less energy than conventional tiles and use waste that would otherwise go to landfill.
The recycled content in the tiles is an industry-leading 91 per cent, according to the company. For every square metre of tiles, this means that 8kg of waste is saved from landfill and 14kg of raw material such as clay from extraction."
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