Alderley Park, UK – Econic, a company pioneering carbon dioxide to polyol technology, has raised a total of £3.2m ($4.2m) in funding.
Econic raises more funds
Half of the cash came from the UK Government's Future Fund, which is designed to support innovative businesses through the coronavirus outbreak. This is being matched by a convertible loan from existing investors OGCI Climate Investments and IP Group.
Econic said the money will be used to help commercialise its CO2 consumption technology
'This additional support will help Econic accelerate customer adoption of what is an economically attractive rote to more sustainable products,’ the company said.
Just Jansz, Econic’s non-executive chairman, said the company is poised for a number of exciting partnership discussions. ‘[These are] aimed at progressing commercialisation in polyols for polyurethanes and accelerating deployment into other markets such as surfactants,' he said.
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