Calyxia receives 35 million dollars for the fight against plastic pollution

CleanTech start-up Calyxia raises 35 million US dollars to expand its production. A new production site in Paris is set to significantly increase capacity.

Paris, September 5, 2024 - The French climate tech startup Calyxia has raised 35 million US dollars in a Series B financing round. The round was led by Lombard Odier Investment Managers and Bpifrance. This brings the company's total funding to 70 million US dollars. Calyxia develops biodegradable microcapsules and microparticles that are used in various industries. Applications include consumer goods, crop protection and advanced materials.

Expansion of production and global expansion

Calyxia plans to use the new capital to expand its production and global business activities. The company already commissioned its first fully operational factory in 2023 and entered into partnerships with companies in Europe. The next step is the construction of a new headquarters and an additional production facility in the Paris region. This should increase production capacity to 3,000 tons per year and pave the way for Calyxia to become profitable.

Sustainable alternatives instead of microplastics

Calyxia aims to replace conventional microplastic ingredients and thereby reduce plastic pollution worldwide. The start-up's technology enables manufacturers to replace environmentally harmful materials with sustainable alternatives without compromising the performance of their products. The company sees itself as a pioneer in the field of sustainable industrial products and aims to establish itself as a market leader in a global market estimated to be worth over 10 billion US dollars.

Our customers want to make their products more environmentally friendly, but this is often accompanied by a loss of performance. Our technology helps to overcome these hurdles and enable sustainable product development.

Jamie Walters, CEO and co-founder of Calyxia

Investors are convinced by the technology and its growth potential. Christopher Tritten from Lombard Odier Investment Managers emphasizes the importance of Calyxia's contribution to the fight against microplastic pollution. Cindy Ung from Bpifrance also emphasizes the relevance of the company for the sustainable transformation of industries and France's reindustrialization plan.

Calyxia was founded in 2015 by scientists from Harvard University, ESPCI-Paris PSL and Cambridge University. Calyxia's products combine biodegradability with high performance and cost-effectiveness. The start-up also benefits from the European Commission's stricter legislation, which bans microplastics in many products. As a result, Calyxia believes it is well positioned to further scale its technology in various industries and make a decisive contribution to reducing plastic pollution and CO2 emissions.