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Nash Business Capital Ltd (‘NBC’) has provided up to £3,300,000 of growth capital to Dry Ice Scotland Limited, a leading manufacturer of dry ice products including pellets and slices. Since 2011 the company, which is owned by the brothers Richard and Ed Nimmons, has produced dry ice pellets from its existing facility in Forfar using liquid CO2 feedstock purchased from third parties.

The infusion of new capital from NBC is being used to fund the purchase of equipment and finalise the works of Dry Ice Scotland’s newly established production site at Crofthead, near Dumfries. The site, which is located next to an anaerobic digestion (‘AD’) plant, will take the waste CO2 by-product to produce liquid CO2 that is compressed into dry ice pellets and slices. With a production capacity that is expected to reach c.8,000 tonnes per annum, Dry Ice Scotland will become one of the top 3 UK producers of dry ice. The production process is carbon negative and sets high environmental standards in the manufacture of dry ice.

Dry ice has a wide variety of uses and applications, including airline catering, dry ice blasting, freeze drying, sample/vaccine distribution within the pharmaceutical sector and storage and transportation.

Dry Ice Scotland was advised by Aberdein Considine & Company and AM Corporate Finance. NBC was advised by Blake Morgan LLP and Burness Paul LLP.

For more information, please contact:

Sanjay Mahtani:
Nash Business Capital Ltd