New Iridium Secures $2.65M in Seed Funding

Summary:

1. New Iridium, a sustainable chemical company based in Denver, raised $2.65M in seed funding led by Radicle Growth and CIRI Ventures.
2. The company plans to use the funds to develop its low-cost, low-carbon platform technology and build an industrial pilot facility.
3. New Iridium focuses on turning renewable inputs into high-value chemicals and aims to decarbonize the acetyl value chain.

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   New Iridium: Sustainable Chemical Company Raises $2.65M in Seed Funding

   New Iridium, a Denver-based sustainable chemical company, recently secured $2.65M in seed funding. The investment round was spearheaded by Radicle Growth and CIRI Ventures, with contributions from Evergreen Climate Innovations and Climate Insiders. This funding boost will enable New Iridium to expedite the development of its flagship low-cost, low-carbon platform technology and advance the construction of an industrial pilot facility capable of producing 50 metric tons per year.

   Founded in 2020 by CEO Dr. Chern-Hooi Lim, New Iridium specializes in sustainable chemical innovation, focusing on a platform for low-carbon chemical manufacturing. By leveraging thermal and photocatalytic technologies alongside bio-based feedstocks and captured CO₂, the company efficiently transforms renewable resources into valuable chemicals. Moreover, the platform supports modular and distributed manufacturing, aligning with regional feedstock availability and renewable energy infrastructure to facilitate resilient, localized supply chains.

   New Iridium’s primary products include bio-based acetic acid, ethyl acetate, and related acetate esters designed to decarbonize the acetyl value chain. Additionally, the company is progressing a pipeline of CO₂-derived building block chemicals such as acrylic acid, methacrylic acid, methyl methacrylate ester, and methoxyacetic acid. With a strong focus on sustainability and innovation, New Iridium is poised to make significant strides in the chemical manufacturing industry.

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