iPEACE223
Catalytic process converting bioethanol to sustainable propylene.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor investor | €0.0 | round | |
* | JPY300m | Seed | |
| Total Funding | 000k | ||
iPEACE223, founded in August 2023, is a startup originating from the Tokyo Institute of Technology (now Tokyo-S). The company is developing a process to sustainably produce propylene and its derivatives from bioethanol-derived ethylene using a proprietary zeolite catalyst technology. This aims to reduce carbon emissions by replacing fossil fuel-based production methods for these widely used chemicals and fuels.
The company was co-founded by Toru Setoyama (Representative Director and CTO), Shosuke Kiba (Representative Director), and Toshiyuki Yokoi (Director and CSO). Setoyama, previously an Executive Fellow at Mitsubishi Chemical, has a long history in catalyst development, including over 30 years of collaboration with the research group of Professor Yokoi at Tokyo Tech. This long-standing research partnership led to the development of the core ETP (Ethylene To Propylene) reaction technology and a highly exclusive patent, which formed the basis for founding the company. Kiba brings experience in new business creation, venture investment, and global expansion support from his time at Toyota Tsusho Corporation and the Universal Materials Incubator (UMI).
iPEACE223's core offering is its ETP catalyst process, which enables the high-yield, single-step conversion of ethylene to propylene. The business model involves developing and commercializing this technology to produce green alternatives to liquefied petroleum gas (LPG) and propylene, a fundamental chemical feedstock. The company plans to generate revenue through product supply via joint ventures, technology licensing, and catalyst sales. iPEACE223 is currently operating a bench-scale plant to conduct proof-of-concept tests and produce samples of bio-propylene and bio-LPG, with the goal of achieving commercialization and contributing to a decarbonized society.
Keywords: zeolite catalyst, bioethanol, propylene production, ethylene conversion, decarbonization, green chemicals, sustainable fuel, ETP process, catalyst technology, biomass conversion, carbon neutrality, LPG alternative, chemical feedstock, clean energy technology, Tokyo Institute of Technology, bio-propylene, process design, sustainable manufacturing, chemical engineering, materials science