WINNERS FOR THE RADICLE CORN VALUE CHAIN CHALLENGE ANNOUNCED

THE RADICLE CORN VALUE CHAIN CHALLENGE SPONSORED BY US CORN FARMERS

Radicle Growth is thrilled to announce the winners of the highly anticipated Radicle Corn Value Chain Challenge, sponsored by US Corn Farmers. The event, held yesterday in San Francisco, showcased innovative ideas and exceptional entrepreneurial spirit from a competitive global pool of applicants.

The Challenge set out to invest a minimum of US $1.5M in start-up and growth companies worldwide whose innovative technologies and business models create new uses for corn and long-term sustainable demand for corn production. These companies are expected to be developing new uses for corn that result in replacements for fossil fuel-derived materials with plant-derived materials such as sustainable aviation fuels (SAF), drop-in chemicals and plastics, compostable materials, and as yet unidentified products and product categories that could be new areas for corn-derived products to be used.

The investment prize was equally split between the two finalists – Lakril Technologies and New Iridium, each of which received $750,000.

Låkril’s bifunctional catalyst enables the efficient conversion of corn ethanol into bio-based acrylics, offering a sustainable alternative to traditional petrochemical methods. This innovation leverages sustainably produced corn to produce acrylics, reducing carbon emissions and aligning with the growing demand for eco-friendly chemical production solutions.

New Iridium’s photocatalysis platform empowers the production of low-cost, sustainable chemicals, such as acetic acid, from plants and carbon dioxide. While the acetic acid value chain is currently reliant on petroleum, innovations such as photocatalysis could enable sustainable production from corn-based bioethanol.  The company’s technology has broad applications across various industries, including pharmaceuticals, plastics, agrochemicals, and the energy sector.

Iowa Corn Growers Association Vice President, Mark Mueller, states “As a farmer, it’s exciting to see companies like me Energy and Låkril tapping into corn’s potential as a feedstock, unlocking its many benefits and helping to drive its demand. These innovators are finding new ways to convert corn into bio-based chemicals and green energy solutions. While U.S. corn farmers continue to boost productivity and yields— while using less land and embracing more sustainable practices—we’re also facing growing global competition, which has led to supply outpacing demand. Innovations like these, along with initiatives like the Radicle Corn Value Chain Challenge, not only help create the demand needed to match supply but also pave the way for a more sustainable and prosperous future for farmers and the industries that depend on us.”

“We are proud to recognize the groundbreaking innovations from our finalists in the Radicle Corn Value Chain Challenge. These projects not only highlight the versatility of corn but also demonstrate the potential for transforming our economy towards sustainability. By investing in these visionary companies, we are paving the way for a greener future where agriculture and innovation go hand in hand,” shared Kirk Haney, Managing Partner, Radicle Growth.

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For More Information:

For more information about future Radicle Challenges please visit www.radicle.vc/challenge or contact Natale Clark, Director of Operations at nclark@radicle.vc.

Shannon Textor, Vice President of Communications, stextor@iowacorn.org, 515-225-9242