Photanol BV, a biotech firm specializing in CO2-to-chemical conversion, has declared bankruptcy due to financing difficulties exacerbated by the withdrawal of a key partner in late 2024. Despite having confirmed the viability of its technology and plans for a demonstration facility, the company could not secure alternative funding. CEO Jeroen van Harten and CTO Jan Wery expressed deep regrets over halting operations just as they were ready to scale up. Efforts are underway to preserve Photanol's technology and explore a future role in sustainable chemical production.
We want to express our profound gratitude to our dedicated employees, whose tireless efforts brought this revolutionary technology to life.
We also thank our shareholders, partners, and Dutch government institutions for their continued support throughout our journey.
It is with deep regret that we must halt our operations just as we were ready to scale up our technology.
Despite efforts to secure alternative funding, Photanol was unable to bridge the financial gap.
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