Neolithe, a young French industrial start-up and winner of the new French Tech Green20 program, at the origin of a major innovation in waste treatment, has just completed its third round of financing for a total of 20 million from Otium Capital and family investors. This is a further step in the development of the company which, thanks to an accelerated fossilization process, offers a concrete alternative to landfill and waste incineration.
Accelerating the deployment of an innovative solution
The climate emergency and the challenges of the current waste management system require immediate responses and solutions on an industrial scale. The product of the operation has two major objectives. On the one hand, to finance the structure allowing Neolithe to fulfill its objective of producing 24 Fossilizers, units for the treatment of non-recyclable waste with a capacity of 20 tons per day, by 2023. On the other hand, to intensively continue the Research and Development work on new waste deposits. Indeed, today, the process of accelerated fossilization of waste invented by Neolithe applies only to common industrial waste (CIW).
In the coming years, the company’s ambition is to be able to process all types of non-recyclable, non-inert and non-dangerous waste, including household waste.
Nicolas Cruaud, Clément Bénassy and William Cruaud, co-founders of Néolithe state, “We would like to thank all the investors who contributed to the success of this operation. With this fundraising, we close the demonstration phase of our technology that we started in 2019, and enter the phase of industrial scale commercial deployment.”