“The SETsquared Investment Showcase was a good opportunity for potential investors to hear Revolymer in conjunction with other companies – people always compare companies, so that was useful.”
 
Dr Roger Pettman, CEO, Revolymer
 

Fast facts 

  • Start date: 2005
  • Website: www.revolymer.com
  • Market sector: polymers
  • Location: Bristol
  • Investment raised: £43m (including IPO)
  • Number of employees: 33
 

SETsquared support

  • Investment Showcase
  • Grants
  • Networking
 

Company Overview

Revolymer designs, develops and formulates new polymers to improve the performance of existing consumer products within the fast moving consumer goods (FMCG) and other industrial markets. It generates revenue by licensing its technologies to manufacturers and marketers.
 
 

What was the vision for the company and what problem were you aiming to solve? 

“I’m an organic chemist by training, and I have the ability to look at structures and translate them into business opportunities. When I first met Terry Cosgrove, Revolymer’s co-founder, what I liked was that he’d come up with a new series of polymers that could have applications in multiple areas, including a new non-stick chewing gum. Terry had found a niche where we could get a patent on the polymers themselves, and they were easy to make.”
 
 

Company successes

February 2006: £0.75m seed funding from IP Group and Quester
February 2007: £2m funding
May 2008: £10m funding
December 2010: food approval gained for polymer
May 2011: £5.8m funding
July 2012: IPO on AIM, raising £25m of new equity capital
 
 

SETsquared support

“In 2005, Revolymer presented at the SETsquared Investment Showcase in London, where the guest speaker was David Norwood, the CEO of IP Group. We gave a presentation and I met David, and that helped us secure our funding from them.”
 
“IP Group had just signed a deal with the University of Bristol, which also helped. The other person I met at the Investment Showcase was Penny Attridge of Quester, which also contributed to us getting funding. Being at the showcase enabled us to present a business case, and it definitely made a difference in raising investment.”
 
“We also attended the Investment Showcase in 2007. When you’re undertaking fundraising, it’s not about one specific event, but instead a series that all contribute.”
 
“Then, in 2008, SETsquared helped me to secure a travel grant to go out to San Diego to meet some companies. SETsquared raised the opportunity and then connected me with the right people.”
 
“Without SETsquared I wouldn’t have known anything about the trip, and I wouldn’t have received the grant. The USA visit allowed me to get greater exposure, and to do more market research in the key areas we were looking at.”
 
“There was always a relationship between SETsquared and the University of Bristol, and both were helpful. In particular, James Lancaster and Ros Darby at the university helped us in terms of handling intellectual property, in the transfer of the licence to Revolymer, in getting support along the way, and in just being a friend of the company – which you need in this game.”
 
“I had previously taken another company public on NASDAQ, but this time round with Revolymer it was harder. The previous company had been spun out of an existing business, whereas this time it was just me and a blank sheet of paper. I’d been living in America for 20 years so I didn’t have the contacts in the UK within the venture and business world, which SETsquared really helped with.”
 
 

Future plans

“As a public company, we are limited in what we can say about the future. We’re going to continue our licensing strategy and have a strong portfolio of opportunities, and I feel very comfortable that we’re going to deliver these to meet shareholder expectations.”