Corrosion prevention specialist Oxifree Global secured funding from UK venture capital firm Octopus Investments in August, enabling it to invest in expanding its offering within the mining sector, while also enabling the business to roll out additional resources to support its global distribution and end-user base.

The business will also supplement existing well-established operations in Houston, Texas, with additional facilities in Europe and the Far East.

Oxifree is a global provider of solutions for complex corrosion and contamination problems in many sectors. Oxifree metal protection products have been used to protect various conveyor and shaker equipment across the world for mining companies such as Vale, Samarco, BHP Billiton, AngloGold Ashanti, Anglo American and Sylvania Mining.

Oxifree has been proven to extend the life of conveyor pulley and bearing systems by as much as 900%. The solution currently has a presence in over 30 countries across seven continents.

“We are delighted to announce this significant investment by Octopus, which will enable us to expand our services within the mining sector. “Since we began trading in 2009, Oxifree has grown significantly and we intend to use this investment and support from Octopus to help accelerate us on the path to becoming a leading player in the corrosion prevention industry,” says Oxifree MD Ed Hall.

He adds that Oxifree is also excited by the opportunity the investment affords the company to provide additional support to its distributor and end-user base.

Oxifree’s principal business activity is providing patent protected polymeric resin coatings and installation equipment for clients where existing solutions are not sustainable in the long term or financially viable.
Oxifree’s products are wholly organic and environmentally friendly, quick to apply, highly durable, easy to remove, reusable, require minimal surface preparation, are long lasting and contain active corrosion inhibitors within its formula.

“At Octopus, our goal is to find strong, talented management teams with an innovative product, operating in a large market – and this is the case with Oxifree. What’s more, in this business, we see strong potential to expand into complementary markets,” concludes Octopus team member Jane Vinson.