1 The EIC Accelerator Project
EIC Accelerator Program Overview
The EIC Accelerator program, part of the European Innovation Council (EIC), provides financial support to innovative small and medium-sized enterprises (SMEs) and startups across Europe. This initiative aims to foster the development and scaling of groundbreaking technologies and business models, particularly within the DeepTech sector. The program offers a unique blended finance approach, combining grants and equity investments to maximize the impact of funding on companies' growth trajectories.
Funding Structure
The EIC Accelerator offers substantial financial support, comprising two key components:
Purpose and Role in the Ecosystem
The EIC Accelerator plays a pivotal role in the European DeepTech and startup ecosystem by bridging the funding gap that often exists for innovative enterprises. Startups frequently struggle to secure sufficient funding from private investors, especially in the early stages of their development. By providing both grants and equity, the EIC Accelerator alleviates financial burdens, enabling companies to focus on innovation, product development, and market entry.
Furthermore, the program fosters collaboration between startups and established companies, research institutions, and venture capitalists, creating a supportive network for scaling innovative technologies. This ecosystem not only helps startups thrive but also contributes to Europe's overall competitiveness in the global market for advanced technologies.
CO2BioClean GmbH and Project CO2TEXTILE
Company Overview
CO2BioClean GmbH, a German startup, emerged as a winner of the EIC Accelerator program with its innovative project titled CO2TEXTILE. The company specializes in creating sustainable textile solutions through a patented fermentation technology that converts CO2 emissions into 100% biodegradable textile fibers. This approach addresses pressing environmental challenges associated with traditional textile production, which often entails significant carbon footprints and waste.
Project Details: CO2TEXTILE
The CO2TEXTILE project leverages groundbreaking fermentation technology to transform carbon dioxide, a major greenhouse gas, into valuable resources for the textile industry. The core innovation involves a proprietary process that captures CO2 emissions and utilizes them as a feedstock for producing biodegradable fibers.
Technology Basics and Background
The technology behind CO2TEXTILE is based on biochemical processes that enable microorganisms to convert CO2 into organic compounds. These compounds can then be processed into biodegradable fibers suitable for textile manufacturing. The fermentation process not only reduces atmospheric CO2 levels but also mitigates reliance on fossil fuels and conventional raw materials typically used in textile production.
The significance of this technology lies in its dual impact: it addresses the urgent need for sustainable materials in the fashion industry while simultaneously contributing to climate change mitigation. By producing fibers that are fully biodegradable, CO2BioClean GmbH aims to revolutionize the textile market, offering a viable alternative to synthetic fibers that contribute to pollution and environmental degradation.
Conclusion
The EIC Accelerator program serves as a catalyst for transformative innovations in Europe, exemplified by CO2BioClean GmbH and its CO2TEXTILE project. Through blended finance mechanisms, the EIC Accelerator not only supports the development of groundbreaking technologies but also fosters a collaborative ecosystem that enhances the scaling potential of startups. By enabling companies to innovate sustainably, the EIC Accelerator plays a crucial role in shaping a greener future for various industries, including textiles.
2 The Funding Rounds
Financing Raised and Funding Rounds
CO2BioClean GmbH, based in Germany, has raised notable funding since its success in the EIC Accelerator program following the October 6, 2021 cut-off. Key developments include:
- EIC Accelerator Grant (2021): After submitting a successful Step 2 proposal and passing the Step 3 interview for the EIC Accelerator in October 2021, CO2BioClean secured a €2.26 million grant from the European Innovation Council. This was part of one of the largest-ever EIC funding rounds at that time, where select companies could receive grants and/or equity investments up to €17.5 million depending on their needs.
- Equity Investment by EIC Fund (Announced June 2023): In addition to grant support, CO2BioClean attracted direct equity investment from the EIC Fund as part of an overall financing round totaling approximately €3.6 million. The timing suggests this round closed or was announced around mid-2023.
- Series A Round (Reported $7.5M in 2022): Data indicates that CO2BioClean executed a Series A funding round with a reported capital raise of $7.5 million during 2022. While specific breakdowns between equity tranches and non-dilutive funds are not always public, this figure aligns with standard early-stage biotechnological scale-up requirements.
Timing and Amounts of Funding Rounds
| Date | Round/Type | Amount | Investors |
|---|---|---|---|
| Oct/Dec 2021 | EU Grant (EIC Accel.) | €2.26M | European Innovation Council |
| ~June 2023 | Equity/VC | ~€3.6M | EIC Fund |
| Throughout '22 | Series A | $7.5M (~€7M) | Including European Innovation Council |
Note: There is some overlap between reported VC/equity figures due to conversion rates or reporting standards; however, all key rounds occurred post-EIC win.
Investor Information
Primary investors are: - European Innovation Council / EIC Fund: Both as provider of non-dilutive grants and as an equity investor via its dedicated fund vehicle.
Company Valuations
There is no publicly disclosed valuation for CO2BioClean tied specifically to these funding rounds or subsequent events across major databases or reports accessed up to April 23, 2025.
Exit Events (IPO/Buyouts/Acquisitions)
As of April 23, 2025:
- There is no evidence that CO2BioClean has undergone any IPO process.
- No buyout or acquisition activity concerning CO2BioClean has been reported.
Sources
- Seed funding for CO₂ BioClean - Startbase
- Oppenhoff advises EIC Fund on investment in biotech start-up CO₂ BioClean
- Largest-ever funding round from the European Innovation Council Accelerator
- Investment rounds - i3 Connect
3 The Press Releases
CO2BioClean GmbH: Innovations and Updates Since EIC Accelerator Funding
CO2BioClean GmbH, based in Germany, has been a recipient of the EIC Accelerator funding since October 6, 2021. The company specializes in transforming carbon dioxide into biodegradable plastics through a patented fermentation process. This technology converts CO2 into PolyHydroxyAlkanoates (PHA), which can be used in various applications such as cosmetics, packaging, agriculture, and textiles.
Technology and Innovations
- Fermentation Process: CO2BioClean utilizes a high-yield bacterial fermentation process to convert CO2 into PHA. This method substitutes traditional carbon sources (like oil and gas) with CO2, reducing greenhouse gas emissions and the reliance on fossil fuels for plastic production.
- Pilot Plant Launch: In October 2024, CO2BioClean launched a pilot plant at Industriepark Höchst in Frankfurt. This facility marks a significant milestone in scaling up the technology to industrial levels, aiming to reduce CO2 emissions and produce biodegradable plastics.
Partnerships and Funding
- EIC Funding: CO2BioClean received funding from the European Innovation Council (EIC) in 2021, supporting their innovative approach to bioplastics production.
- Investments and Partners: In 2024, the company received additional investments from Hessen and other private investors. The Enterprise Europe Network also provided support for the pilot plant development.
Team Updates
Press Releases and Social Media
Patents
Sources
- CO2BioClean
- Hessian Minister of Economics Opens Revolutionary CO2Bioclean Pilot Plant
- Innovative Fermentation Technology Unit Transforms CO2 into Biodegradable Plastics
- Start-up CO2BioClean Makes Plastic from Carbon Dioxide
- Turning CO₂ into Biodegradable Plastics
4 The Technology Advancements
Overview of CO2BioClean GmbH
CO2BioClean GmbH is a German biotech company founded in 2019 by Dr. Fabiana Fantinel and Dr. Alessandro Carfagnini. It specializes in converting carbon dioxide into biodegradable polymers through a patented fermentation process, aiming to reduce industrial CO2 emissions and replace fossil-fuel-based plastics with sustainable alternatives.
Advancements Since EIC Accelerator Funding
Since receiving the EIC Accelerator funding in October 2021, CO2BioClean has made significant advancements:
Conclusion
CO2BioClean GmbH has leveraged the EIC Accelerator funding to accelerate its technological development and market presence. The establishment of a pilot plant and ongoing partnerships highlight the company's progress in demonstrating its innovative technology to convert CO2 emissions into biodegradable materials.
Sources
- CO2BioClean
- Ghazan Global Post
- Startbase News
- Invest-in-Hessen News
- Renewable-Carbon News
- Oppenhoff News
- Viva Technology Partners
- Patents.Google
- K-Mag
5 The Partnerships and Customers
CO2BioClean GmbH: Partnerships and Developments
CO2BioClean GmbH, a German startup founded in 2019 by Dr. Fabiana Fantinel and Dr. Alessandro Carfagnini, specializes in converting carbon dioxide into biodegradable polymers through a patented fermentation process. This technology aims to reduce industrial CO2 emissions while producing valuable, compostable bioplastics that can replace fossil-fuel-based plastics and textiles.
Partnerships and Customers
- Procter & Gamble (P&G): CO2BioClean has collaborated with P&G on a project focused on creating recyclable packaging for liquid detergents using CO2 as a feedstock. This partnership reflects P&G's goal of establishing an innovative, decentralized value chain for sustainable biopolymer production.
- Nippon Gases: CO2BioClean has concluded initial cooperation agreements with Nippon Gases, among others, highlighting its growing network of industrial partners.
- EIC Fund: The company received investment from the EIC Fund, the European Innovation Council's key investment vehicle, which supports innovative European companies. This funding is part of the EIC Accelerator Programme.
New Partnerships and Relationships
While specific new partnerships or customers announced in 2023 are not detailed, the company continues to expand its network through strategic investments and collaborations. The recent investment from the EIC Fund and other entities underscores CO2BioClean's position as a leader in CO2-based biopolymer production.
Nature and Purpose of New Relationships
New relationships, such as the EIC Fund investment, aim to support CO2BioClean in scaling its technology. These partnerships are crucial for advancing the company's mission to create a fossil-fuel-free future by transforming CO2 emissions into valuable biodegradable materials. The collaborations also facilitate the integration of CO2BioClean's technology into various industrial processes, enhancing its market positioning and technological development.
Positioning in the Market
CO2BioClean's innovative approach positions the company as a pioneer in the biopolymer sector, particularly with its market-ready process for CO2-based biopolymers. This unique capability allows CO2BioClean to capture a significant share of the growing market for sustainable materials, offering businesses a cost-effective solution to reduce their carbon footprint.
Technology Advancements and Scaling
The partnerships and investments, including the EIC Fund's support, are pivotal in advancing CO2BioClean's technology. They enable the company to scale its operations, such as the development of a pilot plant at Industriepark Höchst, which tests the industrial feasibility of its CO2 conversion process under real-life conditions. This scaling will help CO2BioClean meet increasing demand for biodegradable plastics and further reduce industrial CO2 emissions.
Sources
- CO2BioClean
- Seed funding for CO2BioClean
- Oppenhoff advises EIC Fund on investment in biotech start-up CO2BioClean
- Innovative fermentation technology unit transforms CO2 into biodegradable plastics
- Start-up CO2BioClean makes plastic from carbon dioxide
- Let's meet our winning SMEs - PITCCH
- CO2BioClean GmbH | Viva Technology
6 The Hiring and Company Growth
CO2BioClean GmbH, a German start-up founded in 2019 by Dr. Fabiana Fantinel and Dr. Alessandro Carfagnini, specializes in converting industrial carbon dioxide emissions into biodegradable polyhydroxyalkanoates (PHA) biopolymers through a patented fermentation process. Since receiving the EIC Accelerator funding following their successful Step 3 interview after the 2021-10-06 cutoff date, CO2BioClean has made significant strides in scaling and operational development.Team Growth and Current Headcount
While exact current headcount figures are not publicly detailed, available information suggests that CO2BioClean has been actively expanding its team since inception to support its technological scale-up. The company operates a pilot plant at Industriepark Höchst in Frankfurt that began operations around early 2024. This facility represents an important milestone requiring specialized staff for research, production scale-up, and collaboration with partners such as Provadis University.
The founding team remains led by CEO Dr. Fabiana Fantinel who was recognized as “Carbon Emissions Mitigation Start-up CEO of the Year 2024,” highlighting both her leadership role and ongoing involvement at the helm of company growth.
Hiring Activity and Key Positions
Although no detailed list of newly hired roles or precise numbers is publicly available, CO2BioClean’s move to build a research facility with EU funding (around €3.6 million combined from EIC grants and other investors) indicates recent recruitment aimed at technical experts in fermentation technology, biochemical engineering, R&D scientists specializing in biopolymers (PHA), process engineers for pilot plant operations, and possibly roles related to business development or partnerships management.
The collaboration with academic institutions like Provadis University implies hiring or close cooperation with microbiologists/bacteriologists focused on optimizing bacterial strains used for PHA production.
Impact on Company Scaling & Future Outlook
The addition of new technical team members enables CO2BioClean to transition from laboratory tests toward commercial-scale fermentation processes—critical for licensing their technology globally to industrial emitters wishing to convert CO₂ into sustainable plastics. This will help them scale production capacity effectively while maintaining innovation momentum.
Management continuity under founder leadership provides stability during this growth phase enabling strategic vision execution focused on climate impact mitigation through circular bioeconomy solutions. The expansion supports diverse applications such as packaging materials, cosmetics ingredients coatings for seeds (bioplastic seed coatings), protective tree covers against wildlife damage—all currently under testing with partners—signaling broadening market reach enabled by growing expertise within the team.
No public records indicate major changes either within founding management or executive teams since winning EIC funding; rather recognition awards affirm continued confidence in current leadership's capability to guide growth efforts successfully.
Summary
- Current Headcount/Team Size: Not explicitly stated but growing due to pilot plant commissioning and project expansions.
- Hiring Status: Actively hiring technical experts related to fermentation biotech R&D; collaborating closely with university researchers.
- Growth Since EIC Funding: Major scaling milestone achieved via pilot plant launch; increased investment (~€3.6 million total reported); broader application testing underway.
- Key Recent Hires: Likely include biochemical engineers, microbiologists/bacteriologists specializing in PHA-producing bacteria; possible business/partnership roles.
- Management Changes: None reported; founders remain active leaders — CEO awarded “Start-up CEO of Year” demonstrating strong leadership continuity.
- Future Impact: New hires enable scaling from lab-scale innovations toward industrial deployment/licensing worldwide supporting sustainability goals.
Sources:
- CO2BioClean official website
- La French Tech Ecosystem profile
- Startbase news on funding
- CO2BioClean CEO award news
- Panoramicapr company info
- German language article about startup plans
- Hessian Ministry announcement about pilot plant inauguration
7 The Media Features and Publications
CO2BioClean GmbH, a German innovative start-up founded in 2019, has garnered significant media attention and public recognition since winning the EIC Accelerator funding after submitting its Step 2 proposal on October 6, 2021. The company specializes in a patented fermentation process that converts industrial CO2 emissions into biodegradable and compostable polymers (PHA), which can be used for bioplastics, textiles, cosmetics, packaging, and agriculture applications. This technology addresses both climate change and plastic pollution by transforming carbon emissions into valuable sustainable materials.Media Features and Publications
- CO2BioClean has been featured prominently in news articles highlighting their pioneering pilot plant in Frankfurt's Industriepark Höchst. The Hessian Minister of Economics Kaweh Mansoori attended the grand opening ceremony on October 14th (year not specified but post-2021), praising the company's innovation as a revolutionary approach to reduce greenhouse gas emissions while producing biodegradable plastics.
- The company also received coverage from Invest-in-Hessen emphasizing the pilot plant's commissioning with support from regional economic development organizations like Hessen Trade & Invest GmbH and Enterprise Europe Network (EEN). It highlights their successful acquisition of EUR 2.26 million grant plus EUR 1.8 million investment commitment from the EIC Accelerator program to build this facility.
- Recognition through awards such as the Hessian Founder Award 2023 for ‘Innovative Business Idea’ category and winning Science4Life Energy Cup in 2020 further demonstrate CO2BioClean’s rising profile within sustainability innovation circles.
Content From Publications
The publications emphasize:
- The dual environmental impact of CO2BioClean’s technology: mitigating industrial carbon emissions while producing fully biodegradable plastics that avoid long-term microplastic pollution.
- Statements from CEO Dr Fabiana Fantinel highlight gratitude for investor support and governmental backing enabling transition "from lab to reality," aiming at scaling their patented fermentation process cost-effectively at industrial scale.
- Detailed explanation of how captured CO2 is fermented into PolyHydroxyAlkanoates (PHA), which biodegrade naturally within less than one year without leaving harmful residues—a key differentiator against conventional fossil-based plastics.
Podcasts / Interviews
CO2BioClean’s team has participated in interviews accessible via online podcasts:
Conferences, Fairs, Presentations & Event Involvement
While explicit details on multiple conference participations are limited from available data:
- The grand opening event of their pilot plant involved state ministers along with investors inspecting facilities at Industriepark Höchst – an important European chemical/pharmaceutical research hub hosting over ninety companies.
- Dr Fabiana Fantinel received awards such as “Carbon Emissions Mitigation Start-up CEO of the Year 2024” presented during German CEO Excellence Awards hosted by EU Business News recognizing leadership excellence linked to sustainability efforts.
No direct evidence was found regarding participation or presentations at external fairs or international conferences such as WEFTEC or similar events specifically featuring CO2BioClean; however, given their high-profile government-supported launch events combined with award recognitions suggests active engagement within relevant innovation ecosystems.
Summary
Since winning EIC Accelerator funding following its submission on October 6th, 2021:
- CO2BioClean has been featured positively in media outlets reporting on its revolutionary fermentation technology converting industrial CO₂ into biodegradable PHA polymers.
- Regional government officials have publicly endorsed its pilot plant launch near Frankfurt.
- Company leadership including CEO Dr Fabiana Fantinel has gained recognition via prestigious sustainability-focused business awards.
- Interviews have helped communicate their mission widely through podcasts focused on green startups.
The company continues building momentum around scaling up this novel approach linking carbon mitigation directly to circular bioeconomy solutions aimed at replacing fossil-based plastic products sustainably.
Sources
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