Radicle Growth, Kentucky Corn, and other supporting corn associations are thrilled to announce investments in two companies identified through the Radicle Corn Value Chain Challenge, sponsored by US Corn Farmers.
The Radicle Challenge set 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. These companies are expected to develop new uses for corn that complement or replace fossil fuel-derived materials with plant-derived materials, such as sustainable aviation fuels (SAF), drop-in chemicals and plastics, and compostable materials. New areas for corn-derived products could also be explored.
The investment prize was equally split between the two finalists – Lakril Technologies and New Iridium, each of which received $750,000.
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 sustainably produced corn to produce acrylics, reducing carbon emissions and aligning with the growing demand for eco-friendly chemical production solutions.
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 such as photocatalysis could enable sustainable production from corn-based bioethanol. The company’s technology has broad applications across various industries, including pharmaceuticals, plastics, agrochemicals, and the energy sector.
“Driving market innovation in corn farming is just as essential as growing the crop itself. Investing in market development projects creates new opportunities for Kentucky corn farmers to sell their product, increasing profitability and expanding our customer base. KY Corn is proud to see companies like Låkril Technologies and New Iridium leading the way in developing innovative uses for corn that drive long-term demand. These advancements not only strengthen our agricultural economy but also position corn as a vital component in sustainable, cutting-edge technologies. As farmers, we’re committed to sustainable practices and increasing productivity, and partners like these help ensure the markets are there as we continue producing more corn,” said Ray Allan Mackey, Chairman of the Kentucky Corn Promotion Council.
“We are excited to support the groundbreaking innovations from Lakril and New Iridium, companies that are creating new chemical solutions for the market. These technologies not only highlight the versatility of corn as a feedstock but also demonstrate the opportunity for sustainable chemical production. By investing in these visionary companies, we are paving the way for a greener future where agriculture and innovation go hand-in-hand,” said Kirk Haney, Managing Partner, Radicle Growth.
“Receiving this investment through the Radicle Corn Value Challenge is a tremendous validation of our work and vision. We’re excited to collaborate with Radicle Growth and the corn growers to further fuel our ability to scale the BioAA technology and ensure that our solutions are rooted in the needs of real producers. This partnership is a catalyst to create impact where it matters most,” commented Chris Nicholas, CEO of Lakril.
Chern-Hooi Leo, CEO of New Iridium: “We are honored to be selected for investment as part of the Radicle Corn Value Challenge. This investment marks a pivotal milestone in our journey to deliver next-generation, sustainable chemicals. Partnering with Radicle Growth and the corn growers’ states provides us not only with capital but also the strategic insights and deep agricultural expertise needed to bring our technology to scale and deliver real value to the supply chain, as well as create more demand for corn.”
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For More Information:
For more information about future Radicle Challenges, please visit www.radicle.vc/challenge or contact Natale Clark, Director of Operations, at nclark@radicle.vc.
About Kentucky Corn:
Kentucky Corn is a farmer-led, grassroots organization representing the interests of more than 6,000 corn farmers across the state. Our mission is to protect and grow corn markets while shaping a business environment that supports the success of Kentucky corn farmers. Visit www.kycorn.org to learn more.
Media Contact:
Kate Pride, Communications Director
kate@kycorn.org