A company founded at Imperial is set to scale-up its innovative method for producing sustainable biochemicals, materials and fuels.
Lixea has closed a €2 million investment from the European Innovation Council Fund (EIC Fund) pilot. The investment complements the previous EIC grant of €2.3 million as part of the European Commission’s support to scale and commercialise the Lixea technology.
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In The News 20 May 2021
EIT Climate-KIC supported Lixea (formerly Chrysalix Technologies) has received a €2 million investment from the European Innovation Council (EIC) Fund. The company has invented a process that uses waste materials and sustainable biomass to support a circular bioeconomy an alternative to today’s polluting and wasteful petrochemical industry. The funding will be used to reinforce the continued operation of Lixea’s plant and support process optimisation.
Currently, society relies heavily on crude oil and products are discarded once used. Lixea is attempting to address these issues with a patented process that uses novel, low-cost and environmentally-friendly solvents known as ionic liquids to convert waste wood, agricultural by-products and sustainably-grown biomass into high-quality intermediates for sustainable chemicals, materials and fuels.