Spanish startup Catalyxx raises €3M to turn bioethanol into renewable chemicals, with eyes on global scale

Spanish startup Catalyxx has secured a fresh €3 million funding round led by Axon Partners Group, backing its mission to convert bioethanol into renewable chemicals and sustainable aviation fuels (SAF). The new capital will help scale up development at its facility in La Rinconada, Seville, which serves as the company’s main production and R&D hub.

The round comes through the Axon Desarrollo Andalucía fund, which is backed by the European Investment Bank (EIB) and Andalusia’s regional government. It’s another signal that Spain—and especially Andalusia—is attracting serious attention for industrial innovation in clean tech.

“This new round allows us to strengthen and continue the development of our technology center in Seville and to consolidate an industrial base from which we can scale our technology globally,” said Alarcón de la Lastra, CEO of Catalyxx.

A Different Way to Make Chemicals

Catalyxx is working on a patented process that skips fermentation and turns bioethanol into biobutanol, biohexanol, biooctanol, and biodecanol. These chemicals are used in everything from paints and resins to cosmetics, but instead of relying on fossil fuels, Catalyxx’s process uses renewable sources.

The company was founded in 2017 by Joaquín Alarcón de la Lastra, who previously held leadership roles at Abengoa. Over the past year, Catalyxx has raised more than €18 million from a mix of backers, including Aether Chemical Investments, the European Commission’s EIC Accelerator, and now Axon Partners Group.

“This funding represents a decisive boost for our industrial expansion in Andalusia,” Alarcón said. “Having the support of the Axon Partners Group fund and the EIB allows us to move forward in our mission to provide sustainable chemical solutions with global impact, from an industrial and technological base rooted in Andalusia.”

Next Stop: France

While Seville is home, Catalyxx has its sights set further. The EIB has given preliminary approval for a €37 million loan to build the company’s first full-scale industrial plant in France. That facility will be Catalyxx’s first FOAK (First-Of-A-Kind) plant and will operate with a local partner to produce renewable biobutanol using the same proprietary tech.

“Catalyxx is a clear example of the kind of transformative company we aim to support through the Axon Desarrollo Andalucía fund,” said Macarena González, Investment Manager at Axon in Andalusia. “Its technology has the potential to position the region as a European benchmark in sustainable chemistry and the energy transition.”

Due diligence is expected in July, and the company expects final approval if everything checks out. The EIB has flagged this type of industrial project as a meaningful part of Europe’s push to decarbonize the chemical sector.

“This decision by the EIB is a key milestone for Catalyxx and validates our vision to transform the chemical industry through sustainability and efficiency,” added Alarcón de la Lastra.

Catalyxx’s longer-term goal is to help replace fossil-based chemicals at scale, giving manufacturers in multiple industries greener alternatives without sacrificing performance.

Catalyxx CEO Alarcón de la Lastra (Credit: Catalyxx)