Econic met with Bill Gates and UK Prime Minister Rishi Sunak this week to discuss our ground-breaking CO2 utilisation technology.

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London, 15^th February 2023 – Imperial College hosted the event, which launched the Cleantech for UK coalition. Econic were invited to participate to showcase examples of UK cleantech innovation. We exhibited our technology alongside other innovators including hydrogen storage technology company H2GO and agrochemical innovators Crop Intellect. Our CEO Keith Wiggins attended the event along with co-founder Dr Mike Kember and Surfactants Lead, Dr Anthea Blackburn.

Cleantech for UK’s founding members include, alongside others, Imperial College London’s cleantech accelerator Undaunted and Breakthrough Energy, an organization founded by Bill Gates to accelerate the clean energy transition and scale the technologies needed to build a net-zero economy.

Bill attended the event and said: “The UK has all the ingredients to become a major player in the global push to build a net-zero emissions future. It’s great to see cleantech business, innovators and policy makers coming together to advance UK climate leadership.”

Econic is here to redefine the make-up of essential products, for good. Our technology can transform using renewable carbon, the sustainability profile of hundreds of polyurethane products, including car seats, mattresses, shoes, electronics, insulation and more.  Recently, we have begun to demonstrate the technology further, to produce CO₂ based surfactants for a range of ubiquitous consumer goods, like cleaning and personal care products.

The PM said: “Investing in renewables and clean tech is one of the best ways to strengthen our energy security, create better paid jobs and grow the economy.”

Econic’s technology embodies this: not only does it make valuable use of waste CO₂, but that CO₂ replaces expensive, fossil fuel-based feedstocks, compounding the environmental benefit with an economic advantage. Econic’s commercial trajectory is accelerating and in the last twelve months our team has expanded by a third, to keep up with the growth.

Our CEO, Keith Wiggins, said about the event: “It was a privilege to be able to present Econic to Bill Gates and the PM. Proud of our company’s Imperial heritage we are pleased to support the formation of Cleantech for UK to help create the next generation of global cleantech champions in the UK”

It was great to be part of an event highlighting innovative technology for tackling climate change, and to see more focus supporting further innovation in the future.

You can read more about the event here.

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Author, Anthea Blackburn

Econic Technologies has today published the findings of an independent lifecycle assessment (LCA) of its technology by PRé Sustainability. This work has certified that the use of its catalyst technology reduces CO₂ emissions by 30% compared with the traditional manufacture of polyols, which are used in the production of polyurethane, a ubiquitous and essential material. 

The world consumes 11 million tonnes of polyol in polyurethane products per year, a multi-functional material used in a host of diverse everyday applications. Econic Technologies’ catalyst technology turns CO₂ into useful carbon, allowing producers to incorporate it into their products, replacing oil-based feedstocks. The assessment is an important validation of Econic’s innovative technology, supporting the commercialisation of its catalyst as its customers drive to achieve net zero.

The lifecycle assessment found that for every tonne of CO₂ used as a raw material, at least three tonnes of emissions are avoided, primarily due to a significant reduction in the requirement for energy-intensive traditional raw materials. The impact of the technology when adopted across the key polyurethane sector is a reduction of CO₂ equivalent to taking 2.5 million cars off the road or planting 189 million trees per year.

 As well as offering clear environmental benefits, Econic’s catalyst technology also enhances the performance of end products. For example, insulation products become even more carbon negative over their lifetime, whilst also keeping homes warmer and food cooler as well as offering improved flame resistance. Flexible foams, used in products like mattresses and cushions, typically last longer, whilst coatings and elastomers also become more durable, thereby increasing the lifespan of buildings, textiles and essential equipment.  

Keith Wiggins, CEO of Econic Technologies, said: “With COP26 approaching, it is appropriate to showcase how to create sustainable value from captured carbon emissions. This independent lifecycle assessment demonstrates that Econic’s carbon-to-value technology will grow in importance, contributing strongly to the decarbonisation agenda.

As consumers drive demand for more sustainable products, with regulatory reform and greater social responsibility, greater numbers of manufacturers are decarbonising their supply chains. Econic Technologies offers these businesses an innovative solution. Manufacturers are able to bring their customers more sustainable, higher-performing and more cost-effective products today using CO₂.“

Professor Nilay Shah, Head of the Chemical Engineering department at Imperial College London, who reviewed the LCA before publication as an independent expert in low carbon process technologies, said: “As the CCUS sector grows in economic and political importance, systematic and independent LCAs will be vital in underpinning confidence in the sector.

Econic is one of the early pioneers in the sector and so the positive LCA is not just an endorsement of its catalyst, but in the validity of the CCUS as an industry.“

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About Econic’s Lifecycle Assessment

Econic commissioned PRé Sustainability, to run an independent lifecycle assessment (LCA) of its innovative polyol production process, which replaces up to 35 wt% of traditional and expensive oil-based raw materials with captured CO₂. The environmental impacts of Econic’s polyol production process were compared to those of traditional polyols in a cradle-to-gate assessment, and considered raw material production, raw material transportation, and polyol manufacture. The study was critically reviewed by an expert in the field to ensure compliance to ISO standards 14040 and 14044.

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Please get in touch for more information, or to find out how we can help turn waste CO₂ into added value for your business.

Author, Anthea Blackburn