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Norner Verdandi acquires 30 % of Econic

February 20/2012

(norner) -- Norner Verdandi, a technology commercialisation company, has invested in Imperial Innovations portfolio company, Econic Technologies Ltd (Econic). The investment is made together with Imperial Innovations, a leading British technology commercialisation and investment group. Norner Verdandi belongs to Norner, a leading plastics institute and international supplier of consultancy and technological services to polymer and plastics industries. 
Econic is developing catalysts that enable production of plastics, such as polycarbonates and polyurethanes using CO2 as one of the feedstocks. As a result, the proportion of petrochemicals in these materials is reduced, thereby giving significant benefits in eco footprint. Because raw material costs can account for up to 80% of the sales price of the finished product, it is expected that the reduced petrochemical content will translate to cost competitive products.  

The catalysts have significant potential across the global polyurethanes and polycarbonates markets, which are worth around USD20 billion and USD11 billion respectively.  Polyurethanes are used for products ranging from car seats to insulation foam and polycarbonates are used for products ranging from drinking bottles to coatings.
Following the investment, Norner Verdandi holds a 30% stake in the business.  The new funds will be used for Research and Development purposes, as well as scaling up the catalyst production process.

Author:Anna Larionova
Category:General News
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