LONDON—Econic Technologies Ltd. completed an $8.33 million Series A investment round with Imperial Innovations and Jetstream Capital.
The funds raised by the company in this investment round will be used to further the testing and scale up of Econic's catalyst technology to be commercialized for polyurethane polyols and long-chain polymers. Econic is a developer of new catalyst technology polymers from waste carbon dioxide.
Imperial Innovations has been an investor since Econic's first seed founding round. Jetstream Capital is a U.S. based family office focused on long-term investment in private companies with high environmental or social impact.
David Morgan, executive chairman of Econic Technologies, said the additional funding will allow the company to accelerate its next phase of its development and to intensify its engagement with customers.
“Econic represents an important example of our investment in strong companies with major potential impact on their market,” said Kelsey Lynn, director, technology ventures at Innovations. “It has made great progress with its polymer technology and we are pleased to be supporting Econic as it scales and commercializes its solutions.”
Joel Dobberpuhl, founder and managing director at Jetstream Partners, said the firm looks for companies with strong potential for impact and was drawn to Econic for its exceptional technology, talented scientific team and strong customer interest.