Transaction

Adaptavate - GBP 4m funding package (Sep 2026)

Terms

Announced: 23 Sept 2026
Instrument: Equity
Amount: US$5.36mReported as GBP 4m, converted at 1.3406 USD/GBP (September 2026 average)
Source: adaptavate.com

Project developer: Adaptavate
Recipient type: Technology company
Country: United Kingdom
Capital providers: Capital providers and the amount counted for each
Party Role Amount Basis
Low Carbon Innovation Fund 3 Investor US$1.34m Estimated: an even share, 1 of 4
European Innovation Council Accelerator Investor US$1.34m Estimated: an even share, 1 of 4
Innovate UK Grantor US$1.34m Estimated: an even share, 1 of 4
Not itemised Investor US$1.34m Estimated: an even share, 1 of 4

Capital providers and the amount counted for each
Party	Role	Amount	Basis
Low Carbon Innovation Fund 3	Investor	US$1.34m	Estimated: an even share, 1 of 4
European Innovation Council Accelerator	Investor	US$1.34m	Estimated: an even share, 1 of 4
Innovate UK	Grantor	US$1.34m	Estimated: an even share, 1 of 4
Not itemised	Investor	US$1.34m	Estimated: an even share, 1 of 4

: Adaptavate (Bristol, UK), maker of biochar-containing, carbon-storing plasterboard alternatives, completed a GBP 4m funding package. The package comprises funding from the European Innovation Council (EIC) and Innovate UK's Investor Partnerships Programme, plus equity from existing and new shareholders including Low Carbon Innovation Fund 3. Closing wording (Adaptavate release): "completion of a £4 million funding package"; BusinessCloud (23 Sep 2026): the company has "secured a £4 million funding package". Proceeds go to commercial licensing and international manufacturing partnerships. A second close, open to the end of 2026 with a target of GBP 1.3m, is a target and is not recorded. The sources give pounds only, so the US$ value (US$5.36m) is our conversion at the September 2026 average of 1.3406 USD/GBP. The split between grant and equity, and each funder's amount, are not disclosed; the three named funders share the figure evenly. Innovate UK is recorded as a grant because the source names its Investor Partnerships Programme as public funding; the EIC is recorded as an investor (EIC Accelerator blended finance, not a pure grant) with its grant and equity split undisclosed; the unnamed existing and new shareholders are a Placeholder row.

: A UK maker of biochar-based, carbon-storing plasterboard alternatives, funded by a package of EU and UK innovation money together with equity from a regional low-carbon fund and existing shareholders. The grant and equity split is not disclosed.

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