New Iridium builds a low-cost, low-carbon bio-ethanol oxidation platform to produce bio-based acetic acid and ethyl acetate as drop-in replacements for fossil-derived chemicals. The company leverages existing first-generation bioethanol infrastructure and domestically sourced feedstock. Its process is designed for scalable, low-carbon operation while maintaining performance and supply reliability. New Iridium plans to accelerate development of its flagship platform and advance construction of an industrial pilot facility with a capacity of 50 metric tons per year (approximately 140 kilograms per day) to validate process scalability. Both target products recently received USDA BioPreferred certification for 100% bio-based content. The company has received prior support from the National Science Foundation and the U.S. Department of Energy, including an SBIR grant from BETO and ENERGYWERX vouchers. New Iridium develops a photocatalysis platform that uses light rather than heat to produce low‑carbon chemicals and convert CO2 into value‑added products. The company says its technology can sharply reduce carbon emissions through process efficiencies and electrification while lowering production costs versus incumbent processes. It was awarded a $1 million National Science Foundation (NSF) SBIR Phase II grant to accelerate development of the platform. New Iridium is an Innosphere Ventures REACH Client Company based in Fort Collins, CO. The company has formed a strategic partnership with Braskem to advance its CO2 conversion technology and support industry carbon‑neutrality goals. New Iridium has also received recognition as an EPIC pitch finalist at the DOE Small Business Forum & Expo, a Nature Spinoff Prize “One to Watch,” and a Hello Tomorrow Environment track winner.

Total raised

$4M

Funding rounds

2

Latest round

Seed

Latest activity

Jun 2025