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§ Private Profile · London, United Kingdom
Technology company developing catalyst technology to convert captured CO2 into raw materials for plastics and polyol production.
Founded in 2011 by Professor Charlotte Williams at Imperial College London, United Kingdom-based Econic Technologies develops proprietary catalyst technology that converts captured carbon dioxide into usable raw materials for plastics manufacturing. Led by CEO Keith Wiggins, the venture-backed business licenses its specialized low-pressure catalyst systems to global polyol producers, enabling them to replace traditional oil-based petrochemicals with customized amounts of CO2. Operating across twelve different regions globally, the enterprise employs a workforce of 26 scientists and engineers, including 13 professionals holding doctoral degrees. Econic Technologies recently secured a £10.4 million second close for its Series D funding round to further scale its sustainable industrial applications. This financing drew institutional capital from a syndicate of notable investors, including OGCI Climate Investments, Capricorn Sustainable Chemistry Fund, CM Venture Capital Fund III, GC Ventures, and ING Sustainable Investments.
Econic Technologies has raised $53.6M across 8 funding rounds.
Econic Technologies has raised $53.6M in total across 8 funding rounds.
Econic Technologies has raised $53.6M across 8 funding rounds. Most recently, it raised $12.6M Series D in August 2022.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Aug 9, 2022 | $12.6M Series D | Capricorn Venture Partners, Ogci Climate Investments | MIN Zhou, GC Ventures, ING Sustainable Investments | Announced |
| Nov 9, 2020 | $4.2M Venture Round | UK Government | Ogci Climate Investments | Announced |
| Feb 1, 2018 | $10M Series U | — | Alma Angels | Announced |
| Jul 7, 2016 | $9.1M Grant | Woodford Investment Management | Horizon 2020, Kelsey Lynn, Jetstream Capital | Announced |
| Jul 1, 2016 | $6M Series U | — | Alma Angels | Announced |
| Dec 1, 2013 | $8M Series A | Kelsey Lynn | Alma Angels, Jetstream Capital | Announced |
| Feb 21, 2012 | $1.7M Venture Round | JON Edington, Norner Verdandi | — | Announced |
| Feb 1, 2012 | $2M Series U | — | Alma Angels | Announced |
Econic Technologies has raised $53.6M in total across 8 funding rounds.
Econic Technologies's investors include Capricorn Venture Partners, OGCI Climate Investments, Min Zhou, GC Ventures, ING Sustainable Investments, UK Government, Alma Angels, Woodford Investment Management, Horizon 2020, Kelsey Lynn, Jetstream Capital, Jon Edington.
Econic Technologies is a UK-based cleantech company that develops and licenses patented catalyst technologies to convert waste CO2 into polyols, replacing up to 40% of petrochemical feedstocks in polyurethanes and surfactants for products like cars, clothes, mattresses, and construction materials.[2][3][4] It serves plastics manufacturers and polyol producers, solving the dual challenge of reducing reliance on expensive fossil fuels while capturing and utilizing CO2 to lower emissions and create higher-performance, cost-effective materials.[1][2][3] Operating from Alderley Park with presence in twelve regions, Econic has secured significant funding, including €125M in 2022 for energy transition acceleration in the Netherlands and Germany, and gained visibility through endorsements like Bill Gates' cleantech coalition launch.[1][4]
The company's growth momentum includes pilot-validated technology, partnerships with investors like OGCI Climate Investments and IP Group, and recognition in the 2019 Global Cleantech 100, positioning it as a leader in carbon utilization for sustainable manufacturing.[1][4]
Econic Technologies was incorporated on June 24, 2011, as a spinout from Imperial College London, where its core catalyst technology was pioneered by Professor Charlotte Williams, now at the University of Oxford.[3][4][6] The idea emerged from a vision to transform waste CO2—a greenhouse gas—into economically viable feedstocks for polymers, blending environmental benefits with cost savings for manufacturers.[2][4]
Early traction came from initial investments by Touchstone Innovations (now IP Group), Norner Verdandi, Woodford Investment Management, Jetstream Capital, and OGCI Climate Investments, enabling patenting, pilot validations, and relocation to a state-of-the-art facility at Alderley Park.[4] Pivotal moments include press mentions during Bill Gates' 2023 UK cleantech visits with PM Rishi Sunak and the €125M funding round in December 2022 to scale operations.[1]
Econic rides the carbon capture and utilization (CCU) trend, capitalizing on global net-zero mandates and rising CO2 prices to make emissions a feedstock rather than a liability.[2][5] Timing is ideal amid energy transitions, with €125M funding targeting Netherlands and Germany—key hubs for chemicals and renewables—amid EU Green Deal pressures and post-2022 energy crises boosting sustainable alternatives.[1]
Market forces like volatile petrochemical costs and consumer demand for low-carbon products favor Econic, influencing the plastics ecosystem by enabling iconic brands to decarbonize supply chains without performance trade-offs.[2][3] As part of alliances like Unreasonable Group and Gates-backed coalitions, it accelerates cleantech adoption, bridging academia, startups, and industry to solve climate challenges collaboratively.[1][4]
Econic is poised for explosive growth as CCU scales with policy support like carbon border taxes and hydrogen economies, potentially expanding licensing deals and entering new regions beyond Europe.[1][2] Trends like AI-optimized catalysis and circular plastics will amplify its edge, evolving its influence from niche innovator to essential enabler for billion-ton CO2 reductions in manufacturing.
With next accounts due in 2026 showing sustained momentum, Econic exemplifies how CO2—from problem to profit—powers a greener industrial future, liberating plastics from petrochemical dependence.[6]