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 300 million in a Pre-Series A2 financing round. The funding was secured through the issuance of CE-type stock acquisition rights to Mitsubishi Heavy Industries, Ltd. (“MHI”), GYXIS Corporation (“GYXIS”), 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 managed by Universal Materials Incubator Co., Ltd. (UMI).
iPEACE223 is working to commercialize a proprietary zeolite catalyst technology that enables the conversion of ethylene into propylene. The company develops catalysts for producing propylene, a key chemical feedstock, as well as propane and related products from bioethanol, and conducts process design for production plants utilizing these catalysts.
Rather than producing ethylene and propylene from conventional fossil-based petrochemical feedstocks, iPEACE223’s technology utilizes biomass-derived feedstocks, thereby reducing the CO₂ emissions associated with the production of these essential chemicals. Through this approach, the company aims to advance the transition toward a more sustainable and carbon-neutral chemical industry.
iPEACE223 is currently constructing a bench-scale plant within Techno Hub Innovation Kawasaki (THINK) and plans to commence technology demonstration operations during 2025.
Mitsubishi Heavy Industries, Ltd. brings extensive experience in the design and construction of process plants, while GYXIS Corporation, a leading LPG distributor, is expected to explore collaboration with iPEACE223 in areas such as bioethanol procurement and LPG marketing.
Through this financing round, iPEACE223 will accelerate its efforts toward the commercialization of bio-propylene production technology utilizing bioethanol as a feedstock. The company remains committed to contributing to the realization of a decarbonized and carbon-neutral society through the development and deployment of sustainable chemical manufacturing technologies.
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 business:
- Development of catalytic process for manufacturing propylene and LPG-alternative (fuel) from bioethanol
- Process design for large-scale production
URL: https://ipeace223.com/en/
