FOR IMMEDIATE RELEASE
COMPANIES RECEIVE INVESTMENT THROUGH THE RADICLE CORN VALUE CHAIN CHALLENGE
[Centennial, CO — June 6, 2025] Radicle Growth, the Colorado Corn Promotion Council, and supporting state corn organizations are thrilled to announce investments in two companies identified through the Radicle Corn Value Chain Challenge, sponsored by US Corn Farmers.
The Radicle Challenge set out to invest a minimum of US $1.5M in start-up and growth companies worldwide whose innovative technologies and business models create new uses for corn and long-term sustainable demand for corn. These companies are expected to develop new uses for corn that complement or replace fossil fuel-derived materials with plant-derived materials, such as sustainable aviation fuels (SAF), drop-in chemicals and plastics, and compostable materials. New areas for corn-derived products could also be explored.
The investment prize was equally split between the two finalists – Lakril Technologies and New Iridium, each of which received $750,000.
Låkril’s bifunctional catalyst enables the efficient conversion of corn ethanol into bio-based acrylics, offering a sustainable alternative to traditional petrochemical methods. This innovation leverages sustainably produced corn to produce acrylics, reducing carbon emissions and aligning with the growing demand for eco-friendly chemical production solutions.
New Iridium’s photocatalysis platform empowers the production of low-cost, sustainable chemicals, such as acetic acid, from plants and carbon dioxide. While the acetic acid value chain is currently reliant on petroleum, innovations such as photocatalysis could enable sustainable production from corn-based bioethanol. The company’s technology has broad applications across various industries, including pharmaceuticals, plastics, agrochemicals, and the energy sector.
Colorado Corn Promotion Council President, Matt Mulch, states, “As a corn producer in Colorado, it’s encouraging to see a local company like New Iridium and innovators like Låkril work to unlock new possibilities for our crop. By tapping into corn’s potential to produce bio-based chemicals and green energy, they’re not just creating value—they’re helping to drive demand at a time when we need it most. While farmers continue to grow more with less—using fewer resources and adopting more sustainable practices—we’re also feeling the pressure of global competition and oversupply. That’s why breakthroughs like these, along with initiatives like the Radicle Corn Value Chain Challenge, are so important. They open the door to new markets, support rural economies, and help ensure a stronger, more sustainable future for Colorado agriculture and beyond.”
“We are excited to support the groundbreaking innovations from Lakril and New Iridium, companies that are creating new chemical solutions for the market. These technologies not only highlight the versatility of corn as a feedstock but also demonstrate the opportunity for sustainable chemical production. By investing in these visionary companies, we are paving the way for a greener future where agriculture and innovation go hand-in-hand,” said Kirk Haney, Managing Partner, Radicle Growth.
“Receiving this investment through the Radicle Corn Value Challenge is a tremendous validation of our work and vision. We’re excited to collaborate with Radicle Growth and the corn growers to further fuel our ability to scale the BioAA technology and ensure that our solutions are rooted in the needs of real producers. This partnership is a catalyst to create impact where it matters most,” commented Chris Nicholas, CEO of Lakril.
Chern-Hooi Leo, CEO of New Iridium: ”We are honored to be selected for investment as part of the Radicle Corn Value Challenge. This investment marks a pivotal milestone in our journey to deliver next-generation, sustainable chemicals. Partnering with Radicle Growth and the corn growers’ states provides us not only with capital but also the strategic insights and deep agricultural expertise needed to bring our technology to scale and deliver real value to the supply chain, as well as create more demand for corn.”
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For More Information:
For more information about future Radicle Challenges, please visit www.radicle.vc/challenge or contact Natale Clark, Director of Operations, at nclark@radicle.vc.
About: The Colorado Corn Promotion Council (CCPC) was established over 30 years ago to manage a one-penny-per-bushel assessment collected by first handlers of sales of corn in the state. For more information about the Colorado Corn Promotion Council please visit www.coloradocorn.com.