Spanish startup Catalyxx secures a 3 million euro funding round led by Axon Partners Group and supports its mission to convert bioethanol into renewable chemicals and sustainable aviation fuels (SAF). The new capital will help expand the development at the facility in La Linconada, Seville, which serves as the company’s main production and R&D hub.
The round passes through the Axon Desarrollo Andalucía Fund, supported by the European Investment Bank (EIB) and the regional government of Andalucía. Another signal is that Spain, and Andalusia in particular, are gaining serious attention on industrial innovation in clean technology.
“This new round will enable us to strengthen and continue the development of our technology centre in Seville, and consolidate industrial bases that can scale technology globally,” said Alarcón de La Lastra, CEO of Catalyxx.
Another way to make chemicals
Catalyxx is working on a patented process that skips fermentation and converts bioethanol to biobutanol, biohexanol, biooctanol, and biodecanol. These chemicals are used in everything from paints and resins to cosmetics, but instead of relying on fossil fuels, the Catalyxx process uses renewable sources.
The company was founded in 2017 by Joaquín Alarcón de La Lastra. Over the past year, Catalyxx has raised more than 18 million euros from a mix of supporters, including Aether Chemical Investments, the European Commission’s EIC Accelerator and now the Axon Partners Group.
“The funding represents a critical boost to the expansion of the industry in Andalusia,” Alarcon said. “With support from the Axon Partners Group Fund and The EIB, we can advance our mission to provide a global impact on sustainable chemical solutions from our Andalusia-based industrial and technology base.”
Next destination: France
While Seville is at home, Catalyxx has more eyesight set. The EIB has given preliminary approval for a loan of 37 million euros to build France’s first full-fledged industrial factory. The facility will become Catalyxx’s first fork (first time) plant, working with local partners to produce renewable biobutanol using the same proprietary technology.
Macarena González, investment manager at Axon in Andalusia, said: “The technology has the potential to position the region as a European benchmark for sustainable chemistry and energy transition.”
Due diligence is expected in July, and the company expects final approval if everything is checked out. The EIB flags this type of industrial project as a meaningful part of Europe’s push to decarbonize the chemical sector.
“This decision by the EIB is a key milestone for Catalyxx and examines our vision of transforming the chemical industry through sustainability and efficiency,” added Alarcón de La Lastra.
Catalyxx’s long-term goal is to help replace fossil-based chemicals on a large scale, providing more environmentally friendly alternatives to manufacturers from multiple industries without sacrificing performance.
Catalyxx CEO Alarcón de La Lastra (Credit: Catalyxx)
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