The Challenge sets 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 production. These companies are expected to be developing new uses for corn that result in replacements for fossil fuel-derived materials with plant-derived materials such as sustainable aviation fuels (SAF), drop-in chemicals and plastics, compostable materials, and as yet unidentified products and product categories that could be new areas for corn-derived products to be used.
The finalists are:
Låkril Technologies – 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 renewable corn resources to produce acrylics, reducing carbon emissions and aligning with the growing demand for eco-friendly chemical production solutions.
Catalyxx – Catalyxx is creating green technology for a better tomorrow. Catalyxx has a unique, proven, and patented green chemistry technology that produces high value long chain linear alcohols from corn ethanol, which serve as crucial intermediate biochemicals to decarbonize the downstream chemical value chain.
New Iridium – 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 like photocatalysis could enable sustainable production from corn bioethanol.
me energy GmbH – me energy has developed unique technology enabling Rapid Chargers that generate climate-friendly electricity from low-cost ethanol. me energy’s portable, rapid chargers, powered by renewable energy such as corn bioethanol, can also create a new use for corn. The stations do not require a connection to the power grid because they generate their own electricity from sustainable bioethanol.
These visionary entrepreneurs will present their pitches to a distinguished panel of judges on October 22 at the Hotel Nikko in San Francisco. The competition promises to be an exciting showcase of cutting-edge ideas and breakthrough solutions across the landscape of biofuels and sustainable materials.
“Corn farmers are suffering through a time of lower profitability for their family farms, fueled by an imbalance of supply and demand. In order to drive new demand for our sustainable, locally-grown corn, IL Corn and our partners have invested in the Radicle Corn Value Chain Challenge sponsored by U.S. Corn Farmers. This challenge focuses on innovative ideas and new uses for corn that will drive demand and ensure the success of our family farms for the next generation and all those to come,” said Jeff Scates, Shawneetown, IL farmer and Chair of the IL Corn Marketing Board.
“We are excited about the diverse opportunities we’ve identified for new demand for corn through the Challenge,” commented Kirk Haney, Managing Partner, Radicle Growth. “Our finalists represent well that diverse set of opportunities to support an emerging bioeconomy, where corn will be a major feedstock as it continues also to produce more sustainably with a reduced carbon intensity.”
The winner of the Pitch Day Competition will receive up to $1M in funding, as well as valuable networking and mentorship opportunities. For more information about the Pitch Day Competition and to stay updated on event details, please visit www.radicle.vc/challenge or contact Natale Clark, Director of Operations at nclark@radicle.vc.
About IL Corn Marketing Board:
The IL Corn Marketing Board was established in 1982 to manage the voluntary checkoff investment that corn farmers in the state agreed to implement that year. The farmers that serve on the board are elected by their peers to serve unpaid three-year terms. These ICMB farmer leaders strategically invest Illinois corn checkoff dollars to grow demand, create new markets, and foster understanding of corn farmers and the corn industry, which is Illinois’ highest valued agricultural commodity. Find out more about ICMB at www.ilcorn.org and the family farmers who contribute to the checkoff at www.watchusgrow.org.
Media Contact:
Lindsay Croke, Director of Communications and Marketing
lcroke@ilcorn.org
About Radicle Growth:
Radicle Growth selects innovative, early-stage companies for investment, ensuring that disruptive AgTech & Food Tech companies reach their full potential. In addition to providing seed-stage capital, Radicle Growth provides a fertile environment for visionaries in the ag and food space to flourish. Their proprietary platform is one of a kind in the ag and food industry, filling a huge void in the market by identifying the most innovative technologies and accelerating them with a range of value-creation initiatives. To connect and learn more about Radicle Growth follow us on LinkedIn, Twitter and Instagram.
To stay informed on Radicle Challenges, visit:
https://www.radicle.vc/challenge.
Media & Investor Relations Contact:
Natale Clark, Director of Operations
nclark@radicle.vc
