Letoon Holding Ltd (LHL) has secured a momentous £20mn investment from Nimbus Capital, enabling LHL to establish itself as a global leader in the recovery of high value added ingredients from vegetable waste and botanical products for use in the pharmaceutical, nutraceutical, cosmetic and food industries.
LONDON, UK / BUSINESSWIRE / November 8, 2023 / LHL, a UK based company, is proud to announce a significant capital commitment of £20mn from Nimbus Capital, a private investment group that specializes in financing in transformational change and dynamic growth. Nimbus Capital manages a diverse portfolio of investment vehicles, providing flexible and innovative funding solutions to growing businesses worldwide.
Under the agreement, Nimbus will provide LHL with a Growth Equity Agreement of up to £20 million for a 36-month term following a public listing of the LHL common stock. This makes it an innovative business with the certainty of capital upon listing on the London Stock Exchange (“LSE”).
LHL will control the timing and maximum number of drawdowns under this agreement and has no minimum drawdown obligation. Concurrent with a public listing of the Company’s shares, LHL will issue warrants to Nimbus Capital to purchase up to 6% of its common stock.
In addition to capital already raised, this significant understanding between LHL and Nimbus Capital means that the objective of reclaiming high value added ingredients from food waste and numerous botanicals can start in earnest, using the application of proven technology alongside the creation of new patented processes and new patented products.
” We are delighted to announce a truly groundbreaking partnership with Nimbus Capital. This is a pivotal moment as we reshape the landscape for the reclamation of high value added eco-friendly commodities from vegetable and botanical matrices using proven science techniques,” says LHL President & CEO Matteo Turi. ” With Nimbus by our side, we are now able to take huge strides towards a more sustainable, tech-driven circular economy where food waste, which would otherwise be consigned to the compost heap, can be processed for valuable, precious, and efficacious ingredients, with a global industrial demand”.
LHL’s mission is dedicated to the recovery of precious lycopene from tomato waste for use in the pharmaceutical and nutraceutical industry, as well as other natural compounds found in a variety of food waste and botanicals. The validated process allows both a much higher yield and grade of recovery.
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About Nimbus Capital
Nimbus Capital is a private investment group focused on cross-border transactions. The group offers flexible and innovative funding solutions to growing businesses across the globe. The firm is led by experienced managers with successful track records in the international markets, having executed over 50 transactions in more than 30 countries.
About Letoon Holding Ltd.
LHL is a private company that has a scientifically proven and uniquely innovative ultrasonic reclamation expertise allowing it to transform vegetable waste and plant matter into high value added nutrients and ingredients for the global pharmaceutical, cosmetic and food industries.
Organization: Letoon Holding Ltd
Contact Person: Matteo Turi
Contact Number: +44 (0) 330 1338 999
Address: 167-169 Great Portland Street, London, W1W 5PF
SOURCE: Letoon Holding Ltd