Calyxia raises $35 million to help global manufacturers improve product performance and combat microplastic pollution and greenhouse gas emissions

The investment was led by Lombard Odier Investment Managers’ Plastic Circularity Fund and Bpifrance through its Large Venture Fund, bringing total funding to $70 million.

PARIS, 06 September 2024–(BUSINESS WIRE)–Calyxia, an industrial B2B cleantech innovator, certified B Corp, specializing in advanced and biodegradable microcapsules and microparticles for use in consumer products, crop protection and advanced materials, today announced that it has raised $35 million in a Series B funding round. The round was led by Lombard Odier Investment Managers on its Plastic Circularity Fund And Bpifrancethrough its Large Venture Fund with strong support from existing investors, including Astanor.

Calyxia recently installed and qualified its first fully operational factory for 2023 and secured commercial partnerships for mass industrial applications with leading companies in the agriculture, consumer goods and advanced materials markets.

The new capital will enable Calyxia to become profitable, deploy its innovative manufacturing technology globally, and establish itself as a market leader in a market valued at over $10 billion by 2030.

More specifically, with the support of this new round of financing and the France 2030 development program, Calyxia plans to expand its commercial and industrial activities, starting with the construction of a new headquarters and a second production site in the Paris region by the first quarter of 2025. This new facility will increase production capacity to 3,000 tonnes per year and pave Calyxia's path to profitability and establish its position as a market leader.

“Our customers strive to reduce the environmental impact of their products, but often have to compromise on performance and profitability, hindering widespread adoption.,” said Jamie Walters, CEO and co-founder of Calyxia. “This investment will accelerate the large-scale adoption of our products and enable manufacturers to reduce plastic pollution and greenhouse gas emissions while increasing the performance and profitability of their products, creating a high-impact environment. We are excited to partner with such a world-class investor group that shares our commitment to scaling sustainable technologies and transforming industries. Together, we are ready to tackle some of the most pressing environmental and industrial challenges of our time.“

Christopher Tritten, Head of Private Assets and CIO at Lombard Odier Investment Managers added: “We are delighted to support Calyxia through the Lombard Odier Plastic Circularity Fund. Their breakthrough technology offers an innovative approach to tackling microplastic pollution and we believe they have the potential to grow and become a leader in the sector. This is in line with our commitment to invest in companies building a more sustainable future.“

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Cindy Ung, Investment Director at Bpifrance Large VentureComments: “Bpifrance is very proud to support Calyxia through its Large Venture Fund in this new phase of development. Calyxia is a leader in developing solutions that improve product performance while tackling global carbon and plastic pollution. We are confident that the company will become a leader in its field and contribute to France's reindustrialization plan supported by Bpifrance..”

Laetitia de Panafieu, Investment Manageradds: “At Astanor, we support visionary companies that are redefining the future of agri-food technology and sustainability. Calyxia's groundbreaking microcapsule technology not only addresses the most pressing challenges of microplastic pollution and greenhouse gas emissions, but also provides transformative solutions for the agricultural sector. By improving product performance and sustainability across numerous industries, Calyxia is at the forefront of creating a more sustainable and profitable future. We are proud to continue to support them in spreading their innovative solutions globally..”

Founded in 2015 by a group of scientists from Harvard University (USA), ESPCI-Paris PSL (France) and University of Cambridge (UK), Calyxia, is an industrial B2B CleanTech innovator and certified B Corp that has developed proprietary and eco-designed manufacturing technology to produce the world's first high-performance and sustainable microparticle and microcapsule products.

Calyxia's products uniquely combine biodegradability, advanced performance and cost-effectiveness, enabling manufacturers to replace traditional microcapsules and microplastic-based microparticles that are currently widely used and critical to the performance of cosmetics, laundry care and crop protection products. The company has significant tailwinds as the European Commission passed legislation banning intentionally added microplastics in Europe in October 2023, and regulators around the world are preparing similar restrictions.

In addition, Calyxia's products significantly improve the performance and sustainability of composites, coatings, resins and adhesives used in areas such as renewable energy, electronics, automotive and more. By preventing material degradation and significantly increasing material durability, Calyxia makes a remarkable contribution to reducing plastic pollution and lowering the carbon footprint of manufacturing along the entire plastics value chain.

To learn more about our investors: Lombard Odier Investment Managers | Asset Management; Bpifrance – Servir l'Avenir; Astanor – Astanor

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