Michelmores has advised ARC Marine Group Limited, a developer of low-carbon concrete solutions for use in marine environments, on its latest investment from Cornwall & Isles of Scilly Investment Fund (CIOSIF) via The FSE Group and Mercuria, one of the world’s largest independent energy and commodity groups. The £2m funding round also included a Mulago Foundation grant.
ARC Marine develops plastic-free, low-carbon technologies to allow marine industries to build biodiversity and leave a lasting positive impact on the environment, including Marinecrete which emits 91% less CO2 than Portland cement and can even be made net zero. ARC’s first product, the reef cube, is a low-carbon, plastic-free cube that’s made from 98% recycled materials and can be used across a range of applications, including scour protection, moorings, breakwaters and eco-tourism. 1,200 reef cubes have now been deployed across the globe.
CIOSIF previous invested in 2021 and the latest investment is to be used to scale up production and application of ARC Marine’s products.
The Michelmores team advising on the deal was led by Partner Harry Trick alongside Senior Associate Adam Quint and Trainee Solicitor Sena Guvercin .
Tom Birbeck, CEO and founder of ARC Marine, added:
“We are delighted to have secured further CIOSIF funding, via The FSE Group, alongside our new co-investors. The first investment helped us grow our team and expand operations and we’re well on our way to proving our innovative solutions can work at scale. Mercuria recognises the potential of Marinecrete and reef cubes in the natural energy supply chain and their partnership will be instrumental in boosting the visibility of ARC.”
