Wrocław-based Apeiron Synthesis has secured a $4.8 million investment for its catalyst for olefin-based chemical reactions.
The funding round was led by Aper Ventures, a CEE-focused deep tech investor, and also included participation from Polish pharmaceutical company Adamed's "special fund".
The catalyst, which was developed based on a Nobel Prize-winning process, is being used by Polish energy giant PKN Orlen in its petrochemicals division to accelerate the production of intermediary materials for use in plastics, automobiles, medicine, and gasoline additives.
Olefin-based metathesis is a highly effective synthesis process that does not require ultra-high temperature or pressure and produces minimal waste. Apeiron Synthesis's catalyst reduces the number of phases required for the process from 20 to 16, potentially leading to cost savings of up to 20% for clients.
The company aims to secure a niche in the metathesis catalyst market alongside other producers of core metathesis chemicals such as Umicore, XiMo, and Zannan Scitech.