National Wealth Fund

Packaging company Pulpex raised a £62 million Series D round led by the National Wealth Fund and the Scottish National Investment Bank. The funding will finance construction of its first commercial-scale manufacturing facility near Glasgow.

The UK National Wealth Fund committed £43.5 million in direct equity to Pulpex, which will build a commercial-scale fibre bottle plant near Glasgow producing 50 million bottles per year. The Scottish National Investment Bank adds £10 million, bringing total funding to £62 million, and 35 jobs are expected.