MONMOUTH JUNCTION, NJ--(Marketwired - Oct 6, 2014) - Liquid Light announced that it has been honored as the "Rising Star of the Year" in the 2014 Global Cleantech 100 list produced by the Cleantech Group, a leading global research and advisory firm. Liquid Light was recognized for its process technology to convert carbon dioxide (CO2) into major chemicals.
The Rising Star of the Year award is presented to the highest-ranked new entrant in the Global Cleantech 100.
The list is collated by combining proprietary Cleantech Group research data, with weighted qualitative judgments of hundreds of nominations, and input from a global 84-person expert panel. The list is comprised of the most innovative and promising companies in cleantech and represents a comprehensive list of those best positioned to solve current challenges.
Liquid Light's technology to convert CO2 into chemicals through energy-efficient catalytic electrochemistry provides a new, pragmatic solution for customers -- allowing them to monetize their CO2 waste and reduce their carbon footprint. The company's first targeted process is for the production of ethylene glycol (MEG), which is used to make everyday products including PET-based plastic bottles, polyester and antifreeze.
This honor by the Cleantech Group is the latest in a string of awards that Liquid Light has earned since emerging from stealth only six months ago. Recent recognition includes winning the Grand Challenge Grant from CCEMC, being named a finalist in the 2014 ICIS Innovation Awards, and having its Chief Science Officer named one of MIT Technology Review's Innovators Under 35. In addition, the company just received $15 million in Series B funding to complete process development at pilot scale.
"The Global Cleantech 100 list is well known for identifying companies that convert challenges into results," said Kyle Teamey, CEO of Liquid Light. "Our technology addresses a real problem and the industry is taking notice. We provide a compelling solution for partners to turn a problem into revenue, while delivering greater sustainability."
About Liquid Light
Liquid Light develops and licenses process technology to make major chemicals from low-cost, globally-abundant carbon dioxide (CO2). Customers profit from a lower cost of production, while harnessing their current waste stream; reduce their dependence on cyclically-priced petroleum feedstocks; and can reduce their carbon footprint.
Liquid Light's first targeted process is for the production of ethylene glycol (MEG), with a $27 billion annual market. Results consistent with cost-advantaged production have been validated at lab scale for key parts of our process; and the process scales in a predictable manner, akin to world-scale chlor-alkali plants.
Liquid Light's core technology is centered on low-energy catalytic electrochemistry to convert CO2 to multi-carbon chemicals. It is backed by more than 100 patents and applications, and extends to multiple chemicals with large existing markets, including ethylene glycol, propylene, isopropanol, methyl-methacrylate and acetic acid.
Liquid Light's investors include VantagePoint Capital Partners, BP Ventures, Chrysalix Energy Venture Capital, Osage University Partners and Sustainable Conversion Ventures.