Econic welcomes new investment to accelerate CO₂ polyols and surfactants
Econic Technologies, a deep tech company focused on renewable carbon, has closed an equity fundraising round that will accelerate delivery for its customers in the polyols market and support the commercialization of its new carbon dioxide (CO₂) surfactant technology.
The round was led by new investor Taranis Carbon Ventures with follow-on investment from Capricorn Partners, CM Venture Capital, ING Sustainable Investments and GC Ventures.
Econic offers a patented process based on a unique catalyst that replaces fossil-based feedstocks with renewable carbon. The company licenses its technology to polyols and surfactants manufacturers that supply global consumer brands and manufacturers.
Econic's technology has applications in furniture and mattresses, automotive, paint and coatings, home and personal care, construction, and textiles and apparel. It can reduce carbon footprint and cost along the value chain while improving the performance and circularity of products.
"Renewable carbon is not just about reducing emissions. It's about reshaping industry. Our investment in Econic Technologies aligns with our commitment to driving sustainable innovation and creating lasting value for future generations," said David Sorin, Managing Director of Taranis Carbon Ventures.
"Our customers in the US, China, and other regions plan on bringing CO₂ polyols to market in the coming months. But climate change is looming, and the renewable carbon economy can't come fast enough. This fresh injection of capital will help accelerate delivery of sustainable polyols and new CO₂ surfactants, so that more consumer brands and industrial companies can switch to renewable materials and meet their sustainability targets sooner," said Econic CEO Keith Wiggins.
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