Econic Technologies, a British cleantech pioneer helping turn waste carbon dioxide into an asset for the plastics industry, was named in the prestigious 2019 Global Cleantech 100. The Global Cleantech 100 is an annual guide published by Cleantech Group to the leading companies and themes in sustainable innovation. It features the private, independent, for-profit companies best positioned to solve tomorrow’s clean technology challenges. This year marks the 10^th edition of the list.

“Econic’s technology allows plastics manufacturers to recycle their captured carbon dioxide into existing plants to make products at lower cost, with improved properties and more sustainably. Carbon dioxide is incorporated directly without the need for energy and resource intensive transformation, turning it from an expensive problem to a profit enhancing opportunity at the same time as reducing the reliance on oil as a raw material, thereby cutting harmful emissions in the industrial process.

“Adoption of this technology in the first market will see the equivalent of 4M cars worth of carbon dioxide emissions saved annually, and we are thrilled that the Global Cleantech 100 has recognised both Econic Technologies and the potential of carbon dioxide as a raw material. This is a further vote of confidence in the growing carbon capture utilisation sector”, said Dr Rowena Sellens, CEO of Econic Technologies.

The list combines Cleantech Group’s research data with qualitative judgements from nominations and insight from a global 87-member expert panel comprised of leading investors and experts from corporations and industrials active in technology and innovation scouting. From pioneers and veterans to new entrants, the expert panel broadly represents the global cleantech community and results in a list with a powerful base of respect and support from many important players within the cleantech innovation ecosystem. The list is sponsored by Chubb.

“Our tenth edition is dominated by innovations for the future of food and mobility, and a decentralized and digitized future not only for energy, but for the industrial world more generally,” said Richard Youngman, CEO, Cleantech Group. “This is a far cry from the dominance of hardware, solar and biofuels in the inaugural Global Cleantech 100 in 2009.”

The complete list of 100 companies was revealed on 28 January at the 17^th annual Cleantech Forum in San Francisco.

• For detailed information on Econic Technologies’ outlook as an innovator, visit Cleantech Group’s market intelligence platform i3 and search for Econic Technologies.

• Download the report and meet the companies solving our biggest challenges

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For further information, please contact:
Alex Kane, Farrer Kane: +44 (0) 20 7415 7154 | alex@farrerkane.com
Max Jewell, Farrer Kane: +44 (0) 20 7415 7154 | maxjewell@farrerkane.com

To find out how we can help turn waste CO₂ into added value for your business, please contact:
Richard French, Business Development Director Econic Technologies | +44 1625 238 644

Author, Anthea Blackburn

Clean-tech pioneer Econic Technologies has opened a first-of-its-kind plant in the UK to demonstrate to customers how its innovative catalyst technologies can convert CO₂ into polyols, which can then be used to make more sustainable polyurethanes for use in products such as automobiles, bedding and footwear.

The new plant is located in Runcorn, at The Heath, one of the UK’s leading independently-owned business and technical parks. It comprises all elements of the production process, integrated from reaction through to final product treatment, in a bespoke industrial unit. Opening its new plant at The Heath demonstrates Econic Technologies’ long term commitment to the North West following its relocation from London to Cheshire in 2017, with the company adding 12 new jobs across its two Cheshire locations since the move.

The new demonstration plant is an exciting step forward in Econic Technologies’ journey to help manufacturers unlock the positive potential of waste CO_2.  Until now, the creation of polyols from CO₂ has been performed in plants at high-pressures and temperatures. Thanks to its new tunable catalyst technology, Econic Technologies’ plant will be able to produce samples of CO₂-based polyols at lower, industrially relevant temperatures and pressures.

The launch of the plant comes just weeks after Econic announced that they had closed a major founding round which saw climate investment group OGCI Ventures coming on board alongside existing investors. As well as private capital investment, the demonstration plant has also received substantial European support through a Horizon 2020 SME Award. Rulande Rutgers, Head of Process and Product Engineering at Econic Technologies explains: “Securing such highly competitive public funding has been an important vote of confidence for Econic Technologies, and is allowing the company to accelerate development pace. Using some of this funding for the new demonstration plant is one way it is helping turn the potential of our catalysts into reality.”

Rowena Sellens, CEO of Econic Technologies, commented: “The demonstration plant is essential to helping our pioneering catalyst technologies develop as they move out of the lab and into the factory. As a company, we want to help drive the market adoption of polyols and our new plant provides an opportunity for us to encourage significant uptake in the industry. The interest from polyol manufacturers and downstream polyol users in the plant has been overwhelming already. We are extremely confident that once we start demonstrating what our technology can do, we will help catalyse a transformation in attitude when it comes to the positive potential of carbon.”

Econic Technologies’ catalysts enable manufacturers to reuse waste CO₂, by allowing it to be incorporated as a feedstock, which offers not only a sustainable benefit by reducing the reliance on fossil fuels but also an economical benefit by enhancing margins. The company hopes that by 2027, 30% of all polyol production will take place using Econic’s catalyst technologies, which could save 3.5 million tonnes of CO₂ emissions each year – the equivalent to taking two million cars off the road.

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For further information, please contact:
Alex Kane, Farrer Kane: +44 (0) 20 7415 7154 | alex@farrerkane.com
Max Jewell, Farrer Kane: +44 (0) 20 7415 7154 | maxjewell@farrerkane.com

For more information on Econic or to inquire about our catalyst technologies, please contact:
Richard French, Business Development Director Econic Technologies | +44 1625 238 645

 

Author, Anthea Blackburn

British catalyst technology company, Econic Technologies, announces the successful completion of its latest round of fundraising. The total amount raised is £7m with first-time investment from OGCI Climate Investments, alongside additional funds from existing shareholders: IP Group plc and Woodford Investment Management. The funding will be used to help further develop Econic’s pioneering catalyst technologies, which unlock the positive potential of waste CO₂ by allowing it to be incorporated as a feedstock thereby enhancing margins and reducing the reliance on fossil fuels. The team hopes that by 2027, 30% of all polyol production will take place using Econic’s catalyst technologies, meaning that potentially 3.5 million tonnes of CO₂ emissions could be saved each year – the equivalent to taking some two million cars off the road.

In addition to the funds from Econic’s existing shareholders, this latest investment round brings backing from OGCI Climate Investments, the one billion-dollar investment fund created by the Oil and Gas Climate Initiative (OGCI), a voluntary initiative led by CEOs of ten global oil and gas companies. The OGCI Climate Investments fund invests in promising technologies and business models that have the potential to significantly reduce greenhouse gas emissions and that are commercially viable and scalable. Working with OGCI Climate Investments means that Econic Technologies will have access to an impressive network of oil and gas experts, opening the door to future opportunities for the global market to benefit from the positive potential of its catalyst technologies.

Due to the interest expressed by a number of strategic investors, the company has the facility to issue a number of additional shares within a limited time window following this close.

Rowena Sellens, CEO of Econic Technologies, commented: “This latest round of funding will help drive Econic Technologies’ continuing growth, and enable us to transform more waste CO₂ into powerful economic and product performance advantages while reducing environmental impact.

“As the catalysts move from our labs to our customer’s factory floor, the funding will be vital to ensure that manufacturers around the world are able to benefit from our pioneering technologies. We are delighted that our investors are prepared to give us the flexibility to bring one or two strategic investors on board and benefit from the additional expertise they can offer at this exciting stage.”

Kelsey Lynn Skinner at IP Group Plc commented: “Econic continues to make strong progress with its transformational catalyst technologies and we are pleased to continue to play a pivotal role in helping the company to realise this potential.”

Pratima Rangarajan, CEO of OGCI Climate Investments commented: “We believe that CO2 utilisation in products is an important pathway to capture carbon, resulting in a more sustainable future. Econic Technologies’ catalyst is a step in the right direction and we look forward to supporting them as they grow.”

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For further information, please contact:
Alex Kane, Farrer Kane: +44 (0) 20 7415 7154 | alex@farrerkane.com
Max Jewell, Farrer Kane: +44 (0) 20 7415 7154 | maxjewell@farrerkane.com

For more information on Econic or to inquire about our catalyst technologies, please contact:
Richard French, Business Development Director Econic Technologies | +44 1625 238 645

Author, Anthea Blackburn

Alderley Park, Cheshire, UK – November 7, 2017: Econic Technologies, a chemical company that supplies pioneering catalyst systems capable of incorporating bespoke amounts of waste carbon dioxide into polymers for use in the plastics industry, today announced it was named in the 2017 Global Cleantech 100 Ones to Watch list, produced by Cleantech Group (CTG).

The GCT100 Ones to Watch list seeks to highlight a group of up-and-coming companies that are catching the eye of leading investors and corporates in the market. The companies listed made the top 250 in this year’s Global Cleantech 100 program and carry pockets of strong support among the GCT100’s Expert Panel, albeit they did not have quite enough market support (yet!) to make the 9th edition of the Global Cleantech 100 list itself (which will be published on January 22, 2018). As such, these companies represent this year’s Ones to Watch.

“The Global Cleantech 100 program is our annual in-depth research exercise to identify the innovation companies leading players in the market are most excited by right now,” said CTG’s CEO, Richard Youngman. “By the nature of the list, the Ones to Watch truly represent the next cadre of exciting disruptive companies.”

“We are delighted with this recognition of the potential of our catalyst systems to benefit not only the environment with regards to the utilisation and reduction of waste carbon dioxide, but also the economy in terms of the value we can add to our customers’, and their customers’, existing products,” said Rowena Sellens, Econic’s CEO.

This year, a record number of nominations for the annual Global Cleantech 100 list were received: 12,300 distinct companies from 61 countries. These companies were weighted and scored to create a short list of 312 companies, with these nominees reviewed by the 86 members of Cleantech Group’s Expert Panel. The Ones to Watch list, a sister list to the annual Global Cleantech 100 list, is created from the top 250 of the shortlist. To qualify for either list, companies must be independent, for-profit cleantech companies that are not listed on any major stock exchange.

The complete list of the Global Cleantech 100 Ones to Watch list was revealed on November 7, 2017. See the full list at https://i3connect.com/gct100/watch-list

The complete list of Global Cleantech expert panel members is available at https://i3connect.com/gct100/panelist

About Cleantech Group
Founded in 2002, the mission of Cleantech Group (CTG) is to accelerate sustainable innovation. Our subscriptions, events and programs are all designed to help corporates, investors, and all players in the innovation ecosystem discover and connect with the key companies, trends, and people in the market. Our coverage is global, spans the entire clean technology theme and is relevant to the future of all industries. The company is headquartered in San Francisco, with a growing international presence in London.
Our parent company, Enovation Partners, one of Consulting Magazine‘s 2017 Seven Small Jewels, is based in Chicago (learn more at www.enovationpartners.com).

MEDIA CONTACT:
Heather Matheson
Cleantech Group
Tel: +1 (415) 233-9714
Email: heather.matheson@cleantech.com

ECONIC CONTACT:
Richard French, Business Development Director
Tel: +44 (0) 1625 238645
Email: R.French@econic-technologies.com

Author, Anthea Blackburn