$1m investment in plastic additives company

University of Queensland (UQ) start-up company TenasiTech, a developer of innovative plastic additives, has received $935,000 from its latest investment round. The company’s durable plastics and rubbers are suitable for use in industries ranging from automotive to construction.

The funds will be used to further develop products from TenasiTech’s SOLID additive range and Adaptive Polyol technologies. The SOLID additive range doubles the surface hardness and scratch resistance of acrylic without loss of gloss or impact strength; while the Adaptive Polyol technology takes rubbery thermoplastic polyurethanes to extreme performance levels without loss of flexibility.

“The poor scratch resistance of acrylic glass is a key barrier to the more widespread replacement of traditional glass,” said TenasiTech CEO Richard Marshall.

“Our additive products are simple to incorporate and allow customers to design plastic sheets and other parts which are more durable as they are less prone to surface defects when handled.”

TenasiTech secured the current round of investment from members of angel investment groups Brisbane Angels and Melbourne Angels, along with UQ-based venture fund and founding investor Uniseed. This follows on from Uniseed’s $825,000 seed investment, which allowed the company to demonstrate the effectiveness of its nanotechnology additives.

“As the acrylic glass market is very large - worth six billion dollars globally - our investors are attracted to the commercial potential for our technology,” Marshall said. Such potential could include use in car interiors, glossy panels for kitchen doors and stair handrails, he added.

UQ acting Vice-Chancellor Professor Max Lu said the investment “is important for the future of TenasiTech in realising the commercial potential of their range of high-performance additives”.

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