The company CO2BioClean is one of 99 companies to prevail in the European funding program, the EIC Accelerator, at the final deadline this year. The company will receive €2.2 million in funding and an additional €4.4 million in equity to launch and scale their breakthrough technology.
Big Deal in the Green Deal: CO2BioClean convinces European Innovation Council
The idea: CO2BioClean creates a decentralized value chain in which CO2 is used as a feedstock for the production of biodegradable biopolymers. Biopolymers are used, among other things, for the production of consumer goods, packaging articles or textiles.
The advantages: Industrial CO2 emissions are the main cause of climate change; plastic waste causes severe environmental damage. CO2BioClean addresses these two societal challenges simultaneously by using environmentally harmful CO to2produce biodegradable plastics for an innovative circular economy. CO2BioClean has succeeded in converting CO 2into biodegradable PHA and has patented its technology.
“We are delighted to have our technology recognised by the European Innovation Council and to be able to make a valuable contribution to the EU’s Green Deal.”Dr Fabiana Fantinel, CEO of CO2BioClean.
The EIC Accelerator is one of the most demanding innovation funding programs in Europe. With strong competition, participating companies have to prove themselves with their projects in an extensive application process. Starting with a sketch submission, through the full application to the pitch interview in front of a jury of experts, the team from CO2BioClean was convincing and thus successfully secured funding in collaboration with DORUCON. In addition, the project was awarded as EIC Accelerator reference project at the announcement of the results.
Since the launch of the funding programme in March 2021, 4,000 companies, including start-ups and SMEs, submitted their ideas. Over 1,800 companies were invited to the second stage, 1,098 by the October deadline alone. A total of 164 companies convinced the expert jury at the pitch interview this year, so that in total over 987 million euros in funding was approved.
About the company CO2BioClean
CO2BioClean GmbH is a start-up company founded in March 2019 by Dr Fabiana Fantinel and Alessandro Carfagnini. The team has successfully produced biodegradable PHA from CO2 gases at laboratory scale using its patented fermentation technology. The CO2BioClean team consists of experts in technology, sales and innovation management with many years of business experience. Dr. Fabiana Fantinel worked for several years in the chemical and life science industries for BASF and LyondellBasell. As Engagement Manager for a McKinsey spinoff and for Capgemini Consulting, she led several innovation and strategy projects. Alessandro Carfagnini is co-founder of SabioMaterials and has extensive experience in bioplastics and the development of environmentally friendly thermoplastic materials.
About DORUCON – DR. RUPP CONSULTING GmbH
DORUCON – DR. RUPP CONSULTING GmbH is a nationwide management consultancy based in Saarbrücken and Berlin. The company has been dealing with the topics of innovation, research and development, technology promotion and financing for more than 10 years. The focus is on SMEs from all industrial sectors. Many have already been supported for several years. The service includes support at state, federal and EU level. Supported funding programmes include the Central Innovation Programme for SMEs (ZIM), the Tax Research Grant, the EIC Accelerator, the GRW Investment Grant and go-innovativ (go-inno). DORUCON is authorized by the Federal Ministry of Economics to issue consulting vouchers of up to 27.500 Euro for the funding program go-inno. In addition, DORUCON is certified by TÜV Süd according to ISO 9001:2015 and is a member of the Offensive Mittelstand and the Bundesverband mittelständische Wirtschaft (BVMW).