Oxford Innovation Finance’s EIS Growth Fund 3 and OION Angel Network have invested in Hexigone, a revolutionary technology delivering high-performance, sustainable alternatives to traditional inhibitors in the coatings industry.
Hexigone’s Intelli-ion® technology is game-changing in the realm of anticorrosion coatings. Achieving optimal anticorrosion protection while being resource-efficient can be a challenge, with traditional approaches often relying on high loadings of corrosion inhibitors which can lead to increased costs and a detrimental environmental impact. However, Intelli-ion® operates on a smart-release mechanism where corrosion inhibitors are released precisely when and where they are needed most. Hexigone’s revolutionary technology is leading a paradigm shift in corrosion inhibitors that will elevate the performance of primers. Its commitment to redefining the future of the coatings industry through innovation, sustainability and collaboration, will help protect assets and the environment for longer.
Leveraging its established market presence, Hexigone will utilise the new investment of more than £1.05 million to strategically expand its business development, sales, and manufacturing teams. The investment will directly support increased production volumes to meet growing demand and continued penetration of the global coatings market.Dr Patrick Dodds, CEO and Founder of Hexigone, commented:
“Hexigone’s innovative inhibitors can help protect metal assets for longer and provide the coatings industry with safe, cost-effective alternatives to heavy metals, phosphates, and other toxic chemicals. As the industry begins to recognise the unique approach of our anticorrosion technology, this new investment enables us to effectively utilise our market position and continue our work with leading specialty chemical distributors globally.”
Richard Cooper, Managing Director at Oxford Innovation Finance, said:
“Corrosion costs the world economy trillions of dollars a year and the processes involved in combating corrosion contributes to the high levels of global carbon emissions. Hexigone’s smart, patented technology Intelli-ion® offers a sustainable solution to corrosion protection. The revolutionary technology is used to manufacture high-performance corrosion inhibitors for the coatings industry, replacing or co-blending with existing inhibitors for environmental, cost and sustainability benefits.”
Published: April 2024.