Ilimex Announces Conclusion Of Funding Round Raising £600,000 (C.€700,000) In Equity Finance

ILIMEX, the Northern Ireland-based provider of biosecurity and air sterilisation solutions, is pleased to announce the conclusion of a funding round which has raised additional equity finance of £600,000 (c. €700,000).

This funding will be used to validate the performance of ILIMEX’s Flufence air sterilisation solutions and fund its entry into the agri-food sector with an initial focus on poultry and medicinal mushroom production.

Ilimex’s Flufence new air sterilisation technology combines continuous airborne pathogen detection with high-intensity UVC sterilisation which actively neutralises airborne viruses such as the Avian Influenza virus.  Viruses such as Avian Influenza have become the most disruptive forces in global agriculture, killing more than 100 million birds in Europe and the United States over the past two years and costing farmers and supply chains $4 - 8 billion in losses annually through mass culling, production downtime, and lost contracts.

The £600,000 (c. €700,000) seed funding round has been concluded with equity finance raised from Innovation Ulster Limited, the enterprise venture capital fund of Ulster University, Invest NI via Clarendon Fund Managers and existing shareholders.

Founded in 2020 with the goal of developing solutions to reduce the impact of airborne pathogens, ILIMEX develops, supplies and validates cutting-edge air treatment technologies designed to provide market-leading levels of biosecurity, achieving Log-6 or a 99.9999% level of reduction in airborne pathogens in a single pass, which is a level of efficacy unmatched in the air treatment industry.

Originally developed in collaboration with Ulster University, ILIMEX products were first introduced to offer protection from airborne pathogens in public spaces such as schools, hospitality, workplaces and healthcare settings.

Since then, ILIMEX air-treatment technologies have evolved leading to the development of its latest iteration, Flufence, which is a specialised solution developed for applications in the agri-food sector and with a particular focus initially on removing airborne pathogens in poultry and mushroom-growing settings. A recent trial on mushrooms returned exceptional results with an overall reduction in contaminant pathogens measured when the Ilimex system was in use.

Commenting, ILIMEX Chief Executive Officer, Mr. Gerry Corrigan, said:

“The demand for ILIMEX’s high-level biosecurity solutions has expanded beyond their original use to include intensive poultry production and medicinal mushroom cultivation. These are industries where airborne contamination poses significant risks that affect both the regulatory compliance of production systems, their commercial viability and bottom-line profitability.

“The opportunities in our local markets and on a global scale are also significant. The initial market for Flufence in the poultry air cleaning market is estimated at £4Bn globally. The market for air sterilisation in the global mushroom sector is estimated at £3.5Bn in the UK, US and EU markets.

“Our strategy is to roll out Flufence among key customer partners where we have opportunities to monitor and manage performance and independently collect data that will underpin and validate the air sterilisation performance of the system, and its impacts on production efficiency and bottom-line profitability of producers.”

Tim Brundle, Director of Research and Impact at Ulster University, added:

“Ulster University is proud to support pioneering innovations that have the potential to deliver meaningful societal and commercial impact. Ilimex is a strong example of how academic collaboration can lead to real-world solutions addressing global challenges in biosecurity. We are delighted to continue backing Ilimex through Innovation Ulster Limited as they expand their technology into the agri-food sector and strengthen Northern Ireland’s reputation as a hub for high-impact innovation. 

Sian McLaughlin, Senior Investment Manager with Clarendon Fund Managers (‘CFM’), highlighted the significance of the investment. She said:

“Ilimex is at the forefront of developing high-impact biosecurity solutions with the potential to transform air quality standards in critical sectors. Through the Invest NI backed Co-Fund, we are proud to support the company’s ambitious growth plans as it moves to validate and commercialise its Flufence technology. This investment underlines our commitment to backing innovative Northern Ireland businesses with global potential.”