Citroniq Raises $12 Million to Progress with Bio-Based PP Facility in US

Citroniq, a Houston-based company specializing in carbon-negative materials, has announced the successful completion of a $12 million Series A funding round. This investment round was notably supported by Lummus Technology, a key partner that previously revealed plans to construct four bio-based polypropylene (PP) plants in the United States in collaboration with Citroniq.

The newly raised funds are set to accelerate the planning, design, and construction phases of Citroniq's inaugural green PP plant, which will be located in Nebraska. This facility is a critical part of the partnership’s strategy to advance bio-polypropylene production and aims to set new standards in the industry.

Leon de Bruyn, President and CEO of Lummus Technology, highlighted the progress made since the announcement of the partnership last year. "We have made substantial strides toward our mutual objective of scaling and commercializing bio-polypropylene production processes. This latest investment in Citroniq further builds on that progress and fortifies our partnership, as we work together to reduce carbon emissions within the plastics industry," said de Bruyn.

The Nebraska plant will utilize Lummus Technology's Verdene PP suite, which includes four key technologies: ethanol to ethylene technology, dimer technology, olefins conversion technology, and polypropylene technology. Lummus Technology prides itself on being the sole provider of a comprehensive set of proven, low-energy technologies required to produce renewable green PP from biogenic ethanol.

The facility, slated for completion in 2027, is projected to have an annual production capacity of 400,000 tonnes of bio-polypropylene. This makes it the first plant in North America capable of producing such a large volume of bio-based PP. Citroniq has also projected that the plant will effectively capture and mitigate approximately 2 million tonnes of greenhouse gas emissions each year.

This investment underscores Citroniq's commitment to advancing sustainable materials and highlights a significant step towards reducing the environmental impact of plastic production. With the backing of Lummus Technology and the strategic development of the Nebraska plant, Citroniq aims to lead the transition to greener, more sustainable manufacturing processes in the plastics industry.

Citroniq is at the forefront of the energy transition, creating carbon-negative materials on a large scale. Utilizing US-produced ethanol and advanced technologies, Citroniq’s platform for the chemical and plastics sectors delivers some of the industry's most cost-effective carbon capture and avoidance solutions. The company's E2O process significantly cuts greenhouse gas emissions, permanently sequesters carbon into valuable plastic pellets, and supports companies in achieving their greenhouse gas reduction goals.