Biosimo, named after the Greek word for «sustainable», is a clean-tech startup that produces sustainable bulk chemicals, starting with acetic acid as the first use case. Introducing renewable chemicals and fuels is necessary to drive the transition from a fossil to a renewable carbon-based economy and achieve the ambitions of NetZero 2050 climate targets. Biosimo’s technology utilises renewable ethanol as a feedstock, reducing greenhouse gas emissions by over 90% compared to conventional methods while maintaining price parity. The process also eliminates toxic and hazardous additives and is highly efficient, scalable, and safe. Biosimo's solution addresses the urgent need for a low-carbon and safer alternative to traditional chemical production, providing a more sustainable and eco-friendly choice for the chemical industry with direct substitution in the supply chain. From this platform, Biosimo aims to create a broad portfolio of green chemicals and solvents used in almost all products of our economy and provide essential components for sustainable jet fuels. With a mission to mitigate climate change and promote sustainable practices, Biosimo is committed to positively impacting the world through cutting-edge technology and responsible business practices.
Biosimo AG has grown its team to 5 FTEs, progressed its technology out of the lab to mini-pilot, and started generating revenue.
Significant progress has been made towards the goal of producing sustainable bulk chemicals. The construction and cold commissioning of the mini-pilot reactor were completed in March 2023 and it is currently under hot commissioning. The mini-pilot reactor, which is about 1,000 times the scale of the original lab reactor, is designed to test catalyst stability and produce about 20 kg of product per week for customers. Basic engineering for the pilot plant has been completed and it is expected to be operational in Q2 2024. The pilot plant will have an annual capacity of about 10 to 15 tons and will bring the technology to TRL 8 by 2025.
In addition to the technological and production progress, Biosimo has made significant strides in building partnerships with industry players. The company has received orders and LOIs for its bio acetic acid and is considering partnerships with chemical distributors to increase production volumes. Biosimo is also in discussions for potential licensing partnerships with ethanol producers in Germany and Brazil, as well as chemical mariculture outside Europe.
In terms of funding, Biosimo has secured about CHF 1’000’000 in grants, equity, initial capital, and sweat money. Additionally, the company won stage III of VentureKick, with an additional CHF 100,000. Biosimo has also successfully closed an equity round led by Übermorgen Ventures. The company is continuously applying for grants and joining consortia in Europe.
Persons involved in the project
Last update to this project presentation 09.05.2023