Green Angel Syndicate invests in Smile Plastics
Investors in this round: Green Angel Syndicate members, the GAS Climate Change Fund, the British Business Investments funds committed to GAS through its Regional Angels Programme, the Angel CoFund and a number of other private investors
Green Angel Syndicate (GAS) is delighted to have led its second round of investment into Smile Plastics (Re-worked Ltd).
Smile Plastics raised £980k from Green Angel Syndicate members, the GAS Climate Change Fund, the British Business Investments funds committed to GAS through its Regional Angels Programme, the Angel CoFund and a number of other private investors.
Smile Plastics has two main goals: to create the most beautiful circular plastics in the world out of 100% recycled and 100% recyclable materials and to challenge ideas about “waste” and the system that creates it. The company follows a zero-waste production model and also offers a buy-back scheme, providing a closed-loop, full-circle ecosystem that keeps plastics out of landfill. Smile currently delivers over 500 tonnes of CO2 savings per year when compared to the traditional way of making panels from virgin polymer.
The panels are predominantly used in the hospitality and retail sectors, although there is a rapidly growing market for making furniture and other household items. Its competitive edge derives from unique products based upon creativity, as well as manufacturing and sourcing know-how developed over a number of years.
Designs from Smile Plastics can be found in Studio Odeonsplatz by Mercedes-Benz, the luxury German automotive brand’s prototype showroom in Munich. Contemporary Danish fashion brand, Ganni, also utilises the Swansea based manufacturer’s eye-catching eco-friendly product display units in their stores across Scandinavia, London, Paris and Los Angeles.
The overall market for Smile products is huge and their environmental credentials underpin strong growth prospects with consumer-facing businesses increasingly focused on green policies and practice. There is growing demand for Smile products and this investment will spur domestic and international expansion of the business. The funds are being deployed to purchase a factory in Swansea, buy additional machinery and expand the team.
Rosalie McMillan, Founding Director of Smile Plastics said: “This investment is well timed to enable us to realise the rapid growth needed to meet the demand for our product in the UK and internationally. We’re proud to have GAS on board for the next stage of our journey.”
Cam Ross, CEO of Green Angel Syndicate commented: “Smile Plastics produces stunning products that are in high demand and good for the planet. This investment will support Smile in meeting that demand and expanding this already hugely successful business. And as their name suggests, the team at Smile are a joy to work with!”