A start-up company aiming to commercialise outputs of the Bancroft group in CNAP has received investment
A start-up company founded in 2019 has received investment to continue with its aims of commercialising the outputs of the Bancroft group in CNAP.
Nuspec Oil Ltd was founded in 2019 with the mission of pioneering development of biodegradable and thermo-stable base oils for the lubricant and chemical industries. Dr Natalia Stawniak, Founder and CEO, has secured £156K Seed Enterprise Investment Scheme funding from SFC Capital to scale up production of biobased bright stock. The product is now available for commercial testing.
Natalia comments: “I am extremally thankful to all our partners who helped build traction for our product. The investment will allow us to complete essential milestones and optimise production. We work towards implementing new rapeseed oils in the future to improve the thermal stability of our first product.“
Geoff Whiteley of the University of York Research and Enterprise team comments: “The development of biobased oils is crucial to the future sustainability of the oil and lubricant industries and we are delighted that Nuspec Oil Ltd has secured this seed investment from SFC Capital to scale up production and launch a new product into this emerging market. Nuspec began as a development from research at the University under the direction of Professor Ian Bancroft but it is a considerable achievement for Natalia and Ian to have taken their concept for the enterprise all the way through to a successful commercial milestone.”