Prime Highlights-

• Metir raises £1.78 million through a placing and subscription to fund a revised strategy focused on growing water testing revenue and margins.
• Dr Alastair Smith succeeds Bob Moore as chief executive on November 9, 2026, as Metir prepares to appoint a permanent chair.

Key Facts-

• The placing raises about £1.4 million and the subscription adds about £375,000.
• Funds will support in-house reagent manufacturing and PFAS and pathogen detection research.

Background-

 Metir, a York-based provider of water and environmental testing technology, has conditionally raised gross proceeds of £1.78 million through a placing and subscription of new ordinary shares at 0.275 pence each.

The placing raises about £1.4 million, and a conditional subscription adds about £375,000, both before expenses.

The company also announced a leadership change. Dr Alastair Smith will succeed Bob Moore as chief executive officer on November 9, 2026. Moore will step down as chief executive and executive chair. Non-executive director Dr Christopher Potts will serve as interim chair once the placing completes while Metir searches for a permanent chair with water industry experience. Graham White will join as a non-executive director, subject to due diligence.

Metir will use the funds to grow revenue from its Microtox® and QuickChek® product lines and improve margins. It will build in-house reagent manufacturing, strengthen its commercial, finance and customer support teams, and redevelop its QuickChek® SRB test for a 2027 relaunch. It will also part-fund research into PFAS detection and pathogen detection, backed by partnerships and grant funding.

Smith said Metir has several revenue opportunities in sectors with urgent testing needs. He named the Qatar installation of Continuous Toxicity Monitoring units as a top priority.

Moore said he believes the company has the building blocks for a growth strategy and thanked the board for its support.