Leading innovative catalyst company Econic Technologies is pleased to announce the completion of a £5million investment round with new investor Woodford Investment Management and return investors Imperial Innovations and Jetstream Capital.
The funding will provide crucial support for the development of future catalyst generations and the expansion of Econic Technologies facilities, thereby accelerating the commercialisation of Econic’s catalyst technology.
This latest round of investment is complemented by the recently announced Horizon 2020 SME award, which adds a further £2M of funding over the next two years.
Rowena Sellens, CEO Econic Technologies commented
“We are delighted that Woodford Investment Management has chosen to invest in Econic Technologies alongside of Imperial innovations and Jetstream Capital. This investment, together with the H2020 award, will support both ongoing catalyst development and our commercialisation activities, including the development of a customer demonstration facility which will ‘showcase’ Econic’s novel catalyst technology.”
For more information contact
Richard French, Business Development Director Econic Technologies +44 203 763 9473
About Econic Technologies
Econic Technologies is an innovative and fast growing chemical technology company that develops and commercialises novel catalyst technologies to build carbon dioxide into polyurethanes and other polymers. Econic’s catalysts enable manufacturers to make a whole new generation of everyday plastics – for use in cars, mattresses, running shoes – that will be both profitable and ecological.
Econic partners with plastic manufacturers to help them make their products using carbon dioxide (CO2). They save money and natural resources by replacing key ingredients made from oil, an expensive and limited fossil fuel, with a waste product they already have. Our planet benefits because CO2 is being recycled into new plastics, instead of released back into the environment.
The underlying catalyst technology was developed at Imperial College London by a team of scientists led by Professor Charlotte Williams. Econic Technologies was founded in 2011 to develop the technology further towards commercial applications. The current technology is covered by a number of worldwide patents and patent applications.