Photanol BV has closed a substantial new financing round to demonstrate its industrial capabilities to produce chemicals from CO2 and sunlight. Photanol BV is a spin-off company established in 2008 by UvA Ventures Holding in collaboration with the Swammerdam Institute for Life Sciences of the UvA’s Faculty of Science.
Photanol uses modified cyanobacteria to produce chemicals from CO2 through photosynthesis. The demo plant is an essential step towards scaling up production of organic acids which can be used in biodegradable plastics, personal care products and as intermediates for the chemical industry.
The commitment of new shareholders GROEIfonds, Innovatiefonds Noord-Nederland and Investeringsfonds Groningen, as well as the continued support of the Dutch Government and existing shareholders UvA Ventures Holding and Icos Capital allow for the construction of Photanol’s first demonstration plant in Delfzijl, the Netherlands. They are keen to drive the next step towards commercialisation with the construction of the demonstration plant in Delfzijl. The plant is to be operational in 2020 at the site of its partner AkzoNobel Specialty Chemicals.
Véronique de Bruijn CEO Photanol BV said: ‘The Photanol team is keen to prove to the world that we can make a big difference by producing clean chemicals while reducing the CO2 burden on the environment.’
Photanol B.V. was established in 2008 by UvA Ventures Holding BV and the UvA’s Swammerdam Institute for Life Sciences (SILS), with an additional investment by Icos Capital in 2012 and is headquartered at Science Park Amsterdam. The company focuses on the development of valuable and clean chemicals that are produced efficiently and sustainably using modified cyanobacteria, which take sunlight and CO2 as raw materials. The goal is to provide biofuel and biochemical compounds that fit the 21st-century environmental constraints by being sustainable and energy efficient.
CimCure, a spin-off of Amsterdam UMC and focusing on cancer immunotherapies for solid tumors, signed a strategic partnership agreement for in-licensing CimCure’s iBoost technology with Intravacc, a worldwide leading translational research and development vaccine organization with an extensive track record in developing viral and bacterial vaccines. The iBoost (immune boost) technology was developed at Amsterdam […]News
MedTech startup Sirius Medical has received CE Mark approval for Sirius Pintuition, a non-radioactive device to localize breast tumors. In 2016 Bram Schermers, then a scientist at NKI, pitched an early concept at the annual Amsterdam Science & Innovation Awards and won first prize! His pitch also caught the attention of seasoned entrepreneur Hubert Martens, […]News
An annual survey held by the program directors of the Joint Master Entrepreneurship (UvA/ VU), Bram Kuijken and Enno Masurel, has found that 17.8% of alumni have founded their own company and 11.0% are currently working freelance. Additionally, the study found that 41.9% of alumni is employed by a startup (19.7%) or a scale-up (22.2%). […]News