COOloop Secures £150,000 Funding to Develop Carbon-negative Acetic Acid from CO₂
UK start-up COOloop, co-founded by Dr. Rajan Lakshman, has received £150,000 in seed funding from Carbon13 Ventures to commercialise a novel catalytic process developed at Monash University, which converts CO₂ and renewable hydrogen into carbon-negative acetic acid. This process utilizes a Metal-Organic Framework (MOF) catalyst, potentially reducing carbon emissions while competing with traditional fossil fuel methods. COOloop will work with Monash University to enhance the economic viability and scalability of the technology.
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UK-based start-up COOloop has secured £150,000 in seed funding from Carbon13 Ventures to commercialise its carbon-negative acetic acid production technology, developed at Monash University. The company uses a world-first Metal-Organic Framework (MOF) catalyst to convert CO₂ and renewable hydrogen directly into acetic acid, potentially eliminating millions of tonnes of emissions.
COOloop's research team, led by Professor Akshat Tanksale, created an iron-based catalyst that converts CO₂ and methanol into acetic acid and later developed a cobalt-nickel bimetallic catalyst for direct CO₂ conversion. COOloop aims to make this process economically viable and scalable while collaborating with Monash University.
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