CO2BioClean GmbH secures investment from BMH Hessen, EIC Fund and Gazhan Commodities for its innovative fermentation process for converting CO2 into biopolymers
CO2BioClean GmbH is pleased to announce that the company has closed its first investment round with BMH (Beteiligungs Managementgesellschaft) Hessen GmbH as lead investor and the EIC Fund and Ghazan Global GmbH as co-investors.
Founded in 2019 by Dr. Fabiana Fantinel and Dr. Alessandro Carfagnini, CO2BioClean is an innovative start-up based in Eschborn, Germany, developing a fermentation process that converts carbon dioxide into biodegradable plastic.
By capturing the required CO2 before it is released into the atmosphere, CO2BioClean addresses not only plastic pollution but also the increase in greenhouse emissions.
The capital raised will be used to scale up the patented process and grow the team.
The work of CO2BioClean is based on the results of six years of intensive research.
The company uses naturally occurring, non-pathogenic bacteria to convert CO2 to the biopolymer polyhydroxyalkanoate (PHA) in a redox reaction.
This is achieved by using the CO2 generated by CO2BioClean customers and capturing it before it is released into the atmosphere. The subsequent fermentation process is carried out at the facilities where CO2 is emitted. The biopolymers obtained can then processed into fibers and then filaments, which can be completely biodegraded within a year (or less in industrial composting) or used for packaging items, like for example paper coating.
With this patented and unique process, CO2BioClean serves two markets simultaneously.
Firstly, it operates in the steadily growing market of CO2 emissions reduction.
By licensing its technology, the startup enables companies that generate high levels of CO2 to reduce their emissions and thus save costs in the form, for example, of the required CO2 certificates.
Secondly, CO2BioClean supplies the plastics market, where the biopolymers can be offered at the same price as petroleum-based polymers. Due to the high yield of the process, around one tenth of global CO2 emissions would be enough to cover almost all of Europe’s plastic needs.
CO2BioClean was awarded the “Seal of Excellence” by the EU Commission in 2020 and in 2021 received a commitment from the European Innovation Council (EIC) for a research grant of €2.26 million. In addition, the European Investment Bank 2022 pledged to participate in future financing rounds with up to €4.4 million.
CO2BioClean is now aiming to scale up its technology towards relevant scale for commercialization.