According to a press release, FenX AG has secured 2.7 million Swiss francs within a seed funding round. The investors include the real estate company Swiss Prime Site, Zürcher Kantonalbank, which is the largest cantonal bank in Switzerland, and CADFEM International, a company specializing in simulation-based planning, among others.
FenX AG has developed a patented technology that can transform industrial waste into insulation panels using a cost-effective foam technique at room temperature. According to the press release, the insulation panels created in this way display good insulation properties and a high level of mechanical strength. They are non-flammable and create almost no carbon emissions.
FenX plans to use the new funds in part to invest further in research and development, and also to build its first production plant and prepare for market launch. FenX’s long-term aim is to manufacture recyclable building materials worldwide. Production for this would be decentralized from locally available resources.
FenX was founded in 2019 as a spin-off from the Swiss Federal Institute of Technology in Zurich (ETH) by researchers from the Laboratory for Complex Materials.