# Econic Technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/econic-technologies

- Industry: Chemicals
- Headquarters: Cheshire, UK
- Website: www.econic-technologies.com
- Total disclosed funding: $51M
- Latest round: Series E (Oct 4, 2024)
- Investors on record: 11

## About

Econic Technologies Ltd, based in the UK, specializes in innovative carbon capture solutions, converting carbon dioxide into high-performance materials, thereby promoting sustainability in various industries.Econic Technologies Ltd, founded in 2011 and headquartered in Cheshire, UK, focuses on transforming carbon dioxide into valuable materials. The company has raised a total of GBP 12.780 mn through multiple funding rounds, with the latest being a Series D round in October 2024, led by investors such as CM Ventures and Capricorn Partners. The current CEO is Keith Wiggins, who has a strong background in technology and innovation within the sector.Econic Technologies specializes in a patented process that utilizes a unique catalyst to transform carbon dioxide (CO2) into high-performance materials, primarily targeting the production of polyols and surfactants. These products serve as essential ingredients that substitute fossil-based raw materials in various applications, including automotive components, construction materials, textiles, and consumer goods such as mattresses. By turning carbon emissions into renewable carbon-based ingredients, Econic enhances product performance while reducing costs, thereby catering to a diverse client base that includes polyols and surfactants manufacturers supplying iconic global brands. The company’s technology is applicable in various markets, with a focus on Europe, North America, and parts of Asia, where there is increasing demand for sustainable materials and reduced carbon footprints.Econic generates revenue primarily through licensing agreements with manufacturers in the polyol and surfactant industries. The company's transaction structure typically involves long-term partnerships, where manufacturers adopt Econic's technology to produce CO2-derived materials. These agreements allow clients to improve their product offerings while decreasing reliance on oil-based inputs, thus aligning with global sustainability goals. While specific pricing structures for licensing and technology transfer are not disclosed, the potential for value creation through enhanced product performance and cost efficiency underpins the economic model of these collaborations. Flagship offerings include proprietary methods for integrating upcycled carbon into essential products, driving both environmental and economic benefits for their clients.In October 2024, Econic Technologies Ltd raised GBP 12.780 mn in Series E funding led by new investors Taranis Investment, alongside returning investors. This funding will be utilized to expand the team, accelerate product development, and scale up manufacturing capacity. The company aims to design and launch new products that address the growing need for sustainable materials, with specific plans to enter additional markets in Europe and North America by mid-2025.

## Funding rounds

- Series E, Oct 4, 2024, $14M — Capricorn Partners, CM Venture Capital, ING Solutions Investment Management, GC Ventures, Taranis Investment
- Series D, Apr 20, 2022, $16M — Capricorn Partners, Oil and Gas Climate Initiative, ING Solutions Investment Management, CM Ventures, GC Ventures
- Series C, Feb 23, 2018, $9.8M — Longview Innovation, Woodford Patient Capital Trust, Oil and Gas Climate Initiative
- Series B, Jul 8, 2016, $6.5M — Touchstone Innovations, Woodford Patient Capital Trust, Jetstream Capital
- Series A, Dec 16, 2013, $4.7M — Touchstone Innovations

## Investors

- Touchstone Innovations (https://capitalatlas.ai/funds/touchstone-innovations) — Series A, Series B
- Woodford Patient Capital Trust — Series B, Series C
- Jetstream Capital — Series B
- Longview Innovation (https://capitalatlas.ai/funds/longview-innovation) — Series C
- Oil and Gas Climate Initiative — Series C, Series D
- Capricorn Partners (https://capitalatlas.ai/funds/capricorn-partners) — Series D, Series E
- ING Solutions Investment Management — Series D, Series E
- CM Ventures — Series D
- GC Ventures — Series D, Series E
- CM Venture Capital (https://capitalatlas.ai/funds/cm-venture-capital) — Series E
- Taranis Investment (https://capitalatlas.ai/funds/taranis-investment) — Series E