Greentech scale-up EcotGrass-based inventors of sustainable binders in paint, have just shut down $ 21 million for the innovation of one of the world’s carbon-intensive industries: the billions and the painting sector, which has been considered as 2% of the global industrial GHG emissions.
This round includes $ 18 million from Yotta Capital, European Circular Biocom Biocom Fund (ECBF) and Starkuest’s equity, with additional support for France 2030 plan through adhem. An upcoming debt -backed package supported by the banking partners of BPI France and Ecot will bring a total of more than $ 21 million.
“It identifies a turning point for Ecot. With the help of our new partners, we are ready to scale quickly – to extend the production, to accelerate the R&D, and to continue global – everything is true to our mission: creates the quality of the durable coating industry. We are already proud to be a European leader – and now, we are setting foot in the United States and Asian markets to take this effect to the next level,” OlivierEcot CEO.
Established in the 21st, ecoot reducing environmental impact and promoting a circular economy, the mission to convert the coating industry with bio-based solutions.
Ecot develops water-based, bio-based and high-performer binders that replace fossils from fossils in decorative, wood and metallic paints. Powered by Green Chemistry and Eco-Diesine, the company integrates sustainability, performance and life-cycle analysis in their innovation.
“With investment in EcoTA, Yota is proud to finance through its growth fund that Yota Growth Industries is a French top industry SME that brings innovative and expensive low-carbon solutions to the market to accelerate the decorbonization of the paint and coating industry. We will work as well as to help up the ecot’s management and to accelerate its positive effects on its growth and environment on the environment“Said Nadia BozigesManage partners in Yota Capital Partners.
With the average annual growth rate of 5% in the last 6 years, the ecooti is exceeding a coating market that has been flat or even decreased in recent years – it has proved to be an urgent change of environmental change.
According to Ecot, their binders not only reduce emissions-they enable true art-scale decorbonization. Thanks to the combination of life-cycle evaluation skills, bio-based formulas knowingly, and a responsible care promise to manage safe chemicals, EcoTAT helps an entire industry to transform its environmental footprint-not compromising without performance.
“As a investor notification is committed to progress in the biological economy, we are proud to support Ecot’s expansion strategy in Ecot, sustainable and notable in ECBF. Ecot’s unique bio-based solutions have already proved their potential in the cost-of-on-facillization of paints and coating“Add Michael NetterShimGeneral partner in ECBF.
This new fund will increase to the next stage of the ecot:
- SCALL ARRESS OF 30,000 TON-TON-BIO-Based Binders at its Rausylon Plant
- R&D, Operation and extend the team across commercial
- Accelerate the international expansion of Europe, the United States and Asia
- Launch new products and deepen strategic partnerships with industrial leaders worldwide
- Follow the target build-up opportunities to achieve its sight growth in order to integrate and expand its leadership in sustainable coating
“We have been supporting the Echoot from the very beginning in the 21st – the billing sector is long before focusing on sustainability. From those first days, we have seen the view of the Ecott to be the leader of the European market. This new round has identified a new chapter: to maximize the impact of decorbonization in the global building industry, especially in the US market, especially in the US market,“Add Cloé cohen-backnineInvestment Director at Starkuest Capital.
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