UK Start-Up COOloop to Pioneer Carbon-Negative Acetic Acid with Monash University Innovation

Key Takeaways

COOloop, co-founded by Dr Rajan Lakshman, secured £150,000 in seed funding to commercialize technology from Monash University.
The company’s innovative catalytic process converts captured CO2 and renewable hydrogen into acetic acid, presenting a carbon-negative alternative to traditional methods.
COOloop plans to enhance the technology’s economic viability while continuing collaboration with Monash University to facilitate industrial scalability.

Innovative Technology Development

COOloop, a UK-based start-up co-founded by Monash University PhD graduate Dr Rajan Lakshman, has successfully raised £150,000 in seed funding from Carbon13 Ventures. The funding will aid the commercialization of technology developed at Monash University, aimed at creating a carbon-negative alternative to fossil fuel-derived acetic acid.

Acetic acid is a crucial chemical, with global production reaching approximately 20 million tons annually, predominantly sourced from fossil fuels. COOloop’s groundbreaking Metal-Organic Framework (MOF) catalyst allows for the direct conversion of CO2 and renewable hydrogen into acetic acid, which could significantly reduce carbon emissions while competing effectively in terms of cost and scalability with conventional production methods.

The foundational research driving COOloop’s technology was spearheaded by Professor Akshat Tanksale and his research team at Monash University. Their work, supported by the Faculty of Engineering’s Research Accelerator Award in 2019, began with the invention of an innovative iron-based catalyst that transforms CO2 and methanol into acetic acid, replacing more costly noble metals. This groundbreaking research was published in Nature Communications in 2023. The team subsequently developed a cobalt-nickel bimetallic catalyst that allows for the direct production of acetic acid from CO2, thereby eliminating methanol from the equation.

COOloop’s co-founder and CEO, Ike Omambala, emphasized the significance of the partnership with Monash University in achieving commercial success. “At COOloop, we’re turning carbon from a liability into a valuable resource. Collaborating with Professor Tanksale’s group enables us to transition pioneering lab innovations into actual industrial applications,” remarked Omambala. He pointed out that this partnership exemplifies how scientific research and entrepreneurship can contribute to a circular carbon economy and expedite the journey towards net-zero chemicals.

Dr Rajan Lakshman, COOloop’s co-founder and CTO, expressed enthusiasm about advancing research into practical applications. He stated, “During my PhD, I focused on methods to convert CO2, one of the primary greenhouse gases, into useful chemicals. Our development of a breakthrough catalyst led to patent filing, marking a significant step forward.” Lakshman conveyed excitement at seeing the technology gain traction through the spin-off company, highlighting its potential to impact sustainable chemical production on a global scale.

Looking ahead, COOloop aims to maintain its collaboration with Monash University to refine the process for economic viability and ensure it is scalable for industrial use. Professor Akshat Tanksale also shared optimism regarding the broader implications of the technology. “It is exciting to witness our research translate into practical applications by COOloop. Technologies focused on negative carbon are crucial for meeting net-zero targets. Starting with acetic acid, COOloop’s pioneering innovation could serve as a platform for a variety of other chemical applications, and our team will continue to work with the company to demonstrate feasibility at scale.”

The content above is a summary. For more details, see the source article.