iPEACE223 Inc. (Head Office: Chuo-ku, Tokyo; Representative Director: Toru Setoyama; hereinafter “iPEACE223”), a company dedicated to establishing a technology for producing green propylene from biomass feedstocks using zeolite catalysts optimized for the Ethylene-to-Propylene (ETP) reaction, has raised approximately JPY 230 million in a Pre-Series A financing round. The funding was secured through the issuance of CE-type stock acquisition rights to Nippon Kayaku Co., Ltd., the UMI No. 3 Investment Limited Partnership, the UMI No. 3 Decarbonization Investment Limited Partnership, and the UMI No. 3 Decarbonization Tokyo Investment Limited Partnership, all of which are managed by Universal Materials Incubator Co., Ltd. (UMI).
iPEACE223 is advancing the commercialization of its zeolite catalyst technology, which enables the conversion of ethylene into propylene. The company is engaged in the development of catalysts for producing propylene, a key chemical feedstock, as well as propane and other products from bioethanol, and in the process design of plants utilizing these catalysts.
By replacing fossil-based feedstocks with biomass-derived alternatives, iPEACE223 aims to significantly reduce CO₂ emissions associated with the production of fundamental petrochemicals such as ethylene and propylene. Through this approach, the company seeks to contribute to the realization of a more sustainable and carbon-neutral chemical industry.
Nippon Kayaku has been collaborating with iPEACE223 in a joint research program since FY2024, recognizing the technological differentiation and commercial promise of iPEACE223’s proprietary zeolite catalyst platform.
iPEACE223 is steadily advancing toward technology demonstration at its bench-scale plant in 2025. Leveraging the proceeds from this financing round together with its ongoing joint research collaboration with Nippon Kayaku, the company will further accelerate the commercialization of bio-propylene production technology utilizing bioethanol as a feedstock. Through these efforts, iPEACE223 aims to contribute to the transition toward a carbon-neutral and decarbonized society.
Nippon Kayaku Press Release
Nippon Kayaku Announces Investment in iPEACE223 to Strengthen Joint Research on Green Propylene Production for a Decarbonized Society
Corporate Information
Company Name: iPEACE223 Inc.
R＆D Center:
4259 Nagatsuta-cho, Midori-ku, Yokohama City, Kanagawa, 226-8501, Japan
Institute of Science Tokyo, Suzukakedai Campus R2B-206
Date of Establishment: August 1, 2023
Representative Director: Tohru Setoyama
Outline of busine:
- Development of catalytic process for manufacturing propylene and LPG-alternative (fuel) from bioethanol
- Process design for large-scale production
