Fintech PR

Econic welcomes new investment to accelerate CO₂ polyols and surfactants

Published

1 month ago

October 15, 2024

MACCLESFIELD, England, Oct. 15, 2024 /PRNewswire/ — Econic Technologies, a deep tech company focused on renewable carbon, has closed an equity fundraising round that will accelerate delivery for its customers in the polyols market and support the commercialisation of its new CO₂ surfactant technology. The round was led by new investor Taranis Carbon Ventures with follow-on investment from Capricorn Partners, CM Venture Capital, ING Sustainable Investments and GC Ventures.

Econic offers a patented process based on a unique catalyst that replaces fossil-based feedstocks with renewable carbon. The company licenses its technology to polyols and surfactants manufacturers that supply global consumer brands and manufacturers. Econic’s technology has applications in furniture and mattresses, automotive, paint and coatings, home and personal care, construction, and textiles and apparel. It can reduce carbon footprint and cost along the value chain while improving the performance and circularity of products.

“Renewable carbon is not just about reducing emissions. It’s about reshaping industry. Our investment in Econic Technologies aligns with our commitment to driving sustainable innovation and creating lasting value for future generations,” said David Sorin, Managing Director of Taranis Carbon Ventures.

“Our customers in the US, China, and other regions plan on bringing CO₂ polyols to market in the coming months. But climate change is looming, and the renewable carbon economy can’t come fast enough. This fresh injection of capital will help accelerate delivery of sustainable polyols and new CO₂ surfactants, so that more consumer brands and industrial companies can switch to renewable materials and meet their sustainability targets sooner,” said Econic CEO Keith Wiggins.

About Econic Technologies
Econic Technologies is a UK-based deep tech company focused on renewable carbon. Its innovative catalyst and process technology allows manufacturers to produce polymers based on CO₂ instead of petrochemicals. The use of CO₂ enhances sustainability while creating more cost-effective, higher-performing end products. Econic licenses its technology to polyols and surfactants manufacturers that supply some of the world’s most iconic consumer brands. Econic was founded in 2011 by Dr. Charlotte Williams at Imperial College London. The company is part of Cleantech Group’s Global Cleantech 100. Its global headquarters are in Alderley Park, UK just outside of Manchester.

About Taranis
Taranis is the investment and asset management arm of the Perenco Group, aiming to support sustainable development through four distinct funds. These include Taranis Carbon Ventures, a VC that invests in technologies to accelerate carbon circularity, such as Econic Technologies, which aligns with Taranis’ mission to reduce environmental impact while unlocking value. In addition to Taranis Carbon Ventures, Taranis also manages Taranis Energy for Africa, Taranis Decommissioning Fund, and Taranis Nature-Based Solutions—all contributing to the core commitment to drive sustainability across various sectors.

For more information, or to contact Taranis, please visit www.taranis.eu.

About Capricorn Partners
Capricorn Partners is an independent manager of private and quoted equity funds that invest in minority shareholding positions of innovative companies with technology as a competitive advantage. Capricorn Digital Growth Fund invests in early-stage growth companies leveraging deeptech innovations to turn data into actionable insights, to enable business and healthcare. Visit the Capricorn Partners website to learn more.

About CM Venture Capital
CM Venture Capital is a leading venture capital firm that invests in renewable carbon, advanced materials science and hard technologies. Backed by Fortune 500 companies – BASF, BAT, GE, Henkel, Heraeus, Petronas, Samsung, SABIC – CM Venture Capital has a global reach and a strong network in China. CM Venture Capital partners with ambitious entrepreneurs to build companies that address challenges in decarbonization, digital transformation, energy transformation and material transformation. Visit cmventure.net for more information.

About ING Sustainable Investments
ING Sustainable Investments is the EUR 500 million sustainable investment fund of ING committed to sustainable startups, scale-ups and mature companies that have a proven technology or business concept and make a positive environmental impact to the energy transition and circular economy. ING is a global financial institution with a strong European base offering banking services through its operating company ING Bank. ING Bank’s objective is to enable people to stay one step ahead, both privately and professionally. ING Bank’s more than 60,000 employees offer retail and corporate banking services to customers in over 40 countries. For more information or to contact ING Sustainable Investments, please visit ING Sustainable Investments.

About GC Ventures
GC Ventures is a wholly owned subsidiary by PTT Global Chemical Public Company Limited (GC). We discover breakthrough innovations to solve global challenges and to meet the needs of businesses and lifestyles of today and tomorrow. We are focusing on strategic investments and collaborations with related startups and also investing in venture capital funds around the world to co-create solutions and enhance their readiness to scale in order to accelerate growth in innovations and businesses for GC’s sustainable growth. GC Ventures has offices in Bangkok, Thailand and Massachusetts, USA. Visit the GC Ventures website to learn more.

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Fintech PR

Wahed appoints Khalid Al Jassim as Executive Chairman of Wahed MENA to help guide the strategic growth of Wahed in the region

Published

1 hour ago

November 24, 2024

CISION (PR Newswire)

wahed-appoints-khalid-al-jassim-as-executive-chairman-of-wahed-mena-to-help-guide-the-strategic-growth-of-wahed-in-the-region

DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Wahed, a global Shariah-compliant fintech, has appointed Khalid Al Jassim as Chairman of Wahed MENA.

On this appointment, Khalid commented, ”I am excited to guide Wahed’s growth in the region. Wahed’s mission of furthering Islamic Finance is one I resonate with deeply and I look forward to supporting its growth ambitions.”

Khalid has over twenty five years of investment banking and corporate advisory experience gained with some of the most innovative and groundbreaking institutions in the world.

His career spans leading firms including SABIC, Arthur Anderson and Arcapita Bank in Bahrain, where he was instrumental in making it into one of the PE powerhouses in the region. His responsibilities started in the earlier years with establishing the Investment Placement Team and transforming it into one of the most robust teams in the industry. At the time that Khalid left Arcapita to build his personal business, he was an Executive Director. Today he is Chairman of Afkar Vision, a private advisory house specialized in mergers and acquisitions with offices in Manama, Dubai and Riyadh.

As well as being one of the earliest investors in Wahed, he is currently Chairman of the Audit Committee and Board Member at Bahrain Islamic Bank, the 4th oldest Islamic Bank in the World and Board Member at SICO Bank and SICO Capital in Saudi, an $8bn asset manager in the region.

Mohsin Siddiqui, Wahed CEO said, “We are delighted to announce Khalid’s appointment. His unique understanding of the financial landscape in the MENA region is unparalleled and we are excited to bring this expertise in continuing to grow our presence in the region.”

About Wahed

Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.

For more information, visit: www.wahed.com

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View original content:https://www.prnewswire.co.uk/news-releases/wahed-appoints-khalid-al-jassim-as-executive-chairman-of-wahed-mena-to-help-guide-the-strategic-growth-of-wahed-in-the-region-302314779.html

Fintech PR

Qatar Development Bank announces strategic investment in global Islamic FinTech, Wahed

Published

1 hour ago

November 24, 2024

CISION (PR Newswire)

qatar-development-bank-announces-strategic-investment-in-global-islamic-fintech,-wahed

DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Qatar Development Bank (QDB) announces a strategic investment in Wahed, a global Shariah-compliant fintech.

Wahed currently manages over $1 billion in assets and has attracted over 400,000 clients worldwide. The company is built on the principles of democratizing access to financial services and offers clients access to Shariah-compliant investments in its mobile app. Wahed removes the barriers to sophisticated investment management services that have been traditionally reserved for high-net-worth investors.

Khalid Al Jassim, Executive Chairman of Wahed MENA said: ‘We are delighted to welcome our new shareholders, QDB. We believe Qatar is fully aligned with our mission in creating a technology-first Islamic finance leader that unlocks a financial ecosystem free from Riba. We look forward to supporting the Qatar National Vision 2030 of becoming a leading knowledge-based economy.

Ali Rahimtula, Partner at Cue Ball Capital said: “Qatar Development Bank’s strategic investment is a clear signal of the faith the industry has in Wahed and its ability to create the future of Islamic Finance.”

About Wahed

For more information, visit: www.wahed.com

About Qatar Development Bank

Qatar Development Bank’s mission is to advance the economic and innovation development cycle of Qatar, supporting and contributing to the nation’s economic diversification. As well as a focus on the development of Qatar’s private sector, QDB is a powerful catalyst for socio-economic development in the country, empowering the local economy and bettering living standards.

For more information, visit: https://www.qdb.qa/

Photo – https://mma.prnewswire.com/media/2566075/Qatar_Development_Bank_Announcement.jpg

View original content:https://www.prnewswire.co.uk/news-releases/qatar-development-bank-announces-strategic-investment-in-global-islamic-fintech-wahed-302314778.html

Fintech PR

China’s AIMA brand electric motorbike is now in Bangladesh

Published

14 hours ago

November 23, 2024

CISION (PR Newswire)

DHAKA, Bangladesh, Nov. 23, 2024 /PRNewswire/ — With the popularity of electric vehicles in Bangladesh, the globally renowned AIMA brand has also arrived in Bangladesh. The esteemed DX Group has brought the AIMA F-626 to customers. This environmentally friendly battery-operated electric motorbike has already been approved by the Bangladesh Road Transport Authority (BRTA) now.

In light of the increasing popularity of electric motorcycles in the country, the internationally-leading brand AIMA has entered the market. By the end of 2023, AIMA electric two-wheelers had established a presence in over 50 countries worldwide, with 11 global production bases, including overseas factories in Indonesia and Vietnam. In 2022, AIMA collaborated with Rob Janoff, the designer of the Apple logo, to refresh the brand’s VI system with a youthful and fashionable image. In 2023, AIMA teamed up with PANTONE, the global authority in color expertise, to create the trending color of the year. As an industry leader, AIMA spearheads the electric two-wheeler sector and showcases the prowess of a leading electric two-wheeler brand on a global scale. As of March 31, 2024, AIMA’s total electric two-wheeler sales had reached 80 million units, earning certification from Frost & Sullivan, a globally recognized business growth consulting firm, as the “Global Leading Electric Two-wheeler Brand”.

Over the years, AIMA has always been a product trendsetter in the electric two-wheeler sector. As of March 31, 2024, the total sales volume of AIMA electric two-wheelers reached 80 million, and Frost & Sullivan, a world-renowned market consulting company, awarded AIMA with the market status certification of the “Global Leading Electric Two-wheeler Brand (by Sales)”.

AIMA adhere to the customer-centered product philosophy and technologies that support long-term innovation and breakthroughs. We believe that the efficiency and modern technology of the AIMA F-626 will present an excellent alternative means of communication for our customers.