Capricorn Partners supports Econic as it welcomes new investment to accelerate CO₂ polyols and surfactants

Capricorn Partners is delighted to announce their follow-on investment in 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 commercialisation of its new 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.

Econic CEO Keith Wiggins said:

• 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,”

Yvette Go, Investment Director at Capricorn Partners said:

• Since our first investment only a couple of years ago, Econic Technologies’ excellent progress has confirmed our thesis that the time has arrived for renewable carbon to enter existing value chains that touch our daily lives. Making our industry more sustainable and less dependent of fossil resources, at equal or better performance, is no longer just a dream: Econic Technologies is at the forefront of turning this into reality and we are proud to continue supporting the Econic team on this industry-changing journey,”