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The Radicle Challenge set out to invest a minimum of US $1.5M in start-up and growth companies worldwide whose innovative technologies and business models create new uses for corn and long-term sustainable demand for corn. These companies are expected to develop new uses for corn that complement or replace fossil fuel-derived materials with plant-derived materials, such as sustainable aviation fuels (SAF), drop-in chemicals and plastics, and compostable materials. New areas for corn-derived products could also be explored.
The investment prize was equally split between the two finalists – Låkril Technologies and New Iridium, each of which received $750,000.
Låkril’s bifunctional catalyst enables the efficient conversion of corn ethanol into bio-based acrylics, offering a sustainable alternative to traditional petrochemical methods. This innovation leverages sustainably produced corn to produce acrylics, reducing carbon emissions and aligning with the growing demand for eco-friendly chemical production solutions.
New Iridium’s photocatalysis platform empowers the production of low-cost, sustainable chemicals, such as acetic acid, from plants and carbon dioxide. While the acetic acid value chain is currently reliant on petroleum, innovations such as photocatalysis could enable sustainable production from corn-based bioethanol. The company's technology has broad applications across various industries, including pharmaceuticals, plastics, agrochemicals, and the energy sector.
Iowa Corn Growers Association Vice President, Mark Mueller, states: “As a farmer, it’s exciting to see companies like New Iridium and Låkril tapping into corn’s potential as a feedstock, unlocking its many benefits and helping to drive its demand. These innovators are finding new ways to convert corn into bio-based chemicals and green energy solutions. While U.S. corn farmers continue to boost productivity and yields while using less land and embracing more sustainable practices, we’re also facing growing global competition, which has led to supply outpacing demand. Innovations like these, along with initiatives like the Radicle Corn Value Chain Challenge, not only help create the demand needed to match supply but also pave the way for a more sustainable and prosperous future for farmers and the industries that depend on us.”
“We are excited to support the groundbreaking innovations from Låkril and New Iridium, companies that are creating new chemical solutions for the market. These technologies not only highlight the versatility of corn as a feedstock but also demonstrate the opportunity for sustainable chemical production. By investing in these visionary companies, we are paving the way for a greener future where agriculture and innovation go hand-in-hand,” said Kirk Haney, Managing Partner, Radicle Growth.
“Receiving this investment through the Radicle Corn Value Challenge is a tremendous validation of our work and vision. We're excited to collaborate with Radicle Growth and the corn growers to further fuel our ability to scale the BioAA technology and ensure that our solutions are rooted in the needs of real producers. This partnership is a catalyst to create impact where it matters most,” commented Chris Nicholas, CEO of Låkril.
Chern-Hooi Leo, CEO of New Iridium: “We are honored to be selected for investment as part of the Radicle Corn Value Challenge. This investment marks a pivotal milestone in our journey to deliver next-generation, sustainable chemicals. Partnering with Radicle Growth and the corn growers' states provides us not only with capital but also the strategic insights and deep agricultural expertise needed to bring our technology to scale and deliver real value to the supply chain, as well as create more demand for corn.”
For More Information:
For more information about future Radicle Challenges, please visit www.radicle.vc/challenge or contact Natale Clark, Director of Operations, at [email protected].
About Iowa Corn:
Iowa Corn works to develop and defend markets, fund research, and provide education about corn and corn products. The Iowa Corn Growers Association (ICGA) is a 7,000-member strong, grassroots-driven organization, headquartered in Johnston, Iowa, serving members across the state, and lobbying on agricultural issues on behalf of its farmer members to create opportunities for the long-term Iowa corn growers’ profitability. For more information, visit iowacorn.org.
Media Contact:
Sydney Garrett, Public Relations Manager
[email protected]
Natale Clark
Radicle Growth
[email protected]
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