Polish chemicals company Apeiron Synthesis raises €4.5M from Orlen VC
21 December, 2022, 16:26
Wroclaw-based chemicals company Apeiron Synthesis has raised €4.5 million (PLN 21 million) from Orlen VC, the leading Polish corporate PKN ORLEN’s fund. The company develops catalysts, with a broad application in pharmaceuticals, flavors, and fragrances. Aper Ventures and Adamed supported the round, MamStartup reports.
- Founded in 2009, Apeiron Synthesis commercializes the Nobel Prize awarded technology of olefin metathesis (a chemical process used in many industries). The company specializes in dealing with innovative ruthenium catalysts used in the olefin metathesis reaction.
- This technology is an extremely effective method of synthesis. It enables more effective, cheaper, and eco-friendly production of advanced chemical compounds. There are currently only four companies operating in the global market of metathesis catalysts, including XiMo, Zannan, Scitech, and Apeiron Synthesis.
“We see great potential in the innovative technological solutions of Apeiron Synthesis. It is already successfully competing in a market worth $30 billion. We are open to further innovative ideas in various business areas that will support the implementation of our strategy and the construction of a strong, modern concern,”Daniel Obajtek, President of the Management Board of PKN ORLEN, comments.
- ORLEN VC invests in technology companies from Europe and Israel. It supports expansion-stage startups working on modern transformative products or services. In general, the fund will invest around €100 million over 10 years in technology companies. Currently, the fund’s portfolio includes three other companies: ICSec, Eologix, and Invert Robotics.
- Aper Ventures, a Warsaw-based VC fund investing in deeptech and hardware solutions, co-invested the round. The leading Polish pharmaceutical and biotech company Adamed also backed the round through its dedicated fund.
- Thanks to the deal, Apeiron’s technology will allows PKN ORLEN to produce new semi-finished products. It will be later used, among others, in the production of cars, medicines, plastics, or fuel additives.