Renix lands new investment partner

Moving out of the accelerator phase, Renix partners with Irish biotech firm ClonBio

RENIX INC., A LONDON-BASED cleantech engineering firm that works out of the city’s growing agri-biz hub The Grove, has announced that it is partnering with the Irish biotech company ClonBio Group Ltd. to develop technology to recover “alternative protein from spent grain streams.”

Renix specializes in the liquid separation market with their flagship RenixUIX technology, which it calls the world’s first steady-state ion exchange platform — a technology that the company says is better able to capture, separate and purify resources, from food and water to metals and fuel.

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ClonBio, their new investment partner, is a large agribusiness based in Ireland that developed Europe’s largest grain-based biorefinery in Hungary, producing ethanol and animal feed from corn. ClonBio has, in recent years, invested heavily in the renewables market, including a recent investment of $50 million (CAD) in the European solar industry.

The deal marks the start of a corporate transition for Renix as they move further into the market and out of the accelerator phase. Having worked together on application development over the past two years, Renix and ClonBio subsidiary, Pannonia Bio, are cooperating on recovery of alternative protein from spent grain streams, to create a high-purity ingredient for food and feed use.

“Bioindustrial Innovation Canada and Southwestern Ontario Angels have been supporters of Renix from the company’s early days,” Renix says in a press release. “As these organizations exit from the company, they are excited to see Renix taking the next steps with this strategic partnership.”

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“As we enter the next phase of our journey, we’re thrilled to have found a such a great partner in the agri-business space,” says Christine Haas, founder and president of Renix. “ClonBio is committed to a vision of dramatic change to methods and sources of production in the agri-food business. They have a seasoned team with a very successful commercialization record. We look forward to working together to transform processes and bring sustainable products to market.”

“Over the past two years, ClonBio has been impressed by Renix’s technology and, just as much, by its dedicated and talented team, who advanced our soluble protein development efforts by leaps and bounds despite Covid,” says Mark Turley, founder and CEO of ClonBio. “It is our honour to support the Renix team further with this investment.”

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On its website, ClonBio says that it “functions as an incubator for bioproducts, trialling laboratory proven concepts for their potential to achieve commercial scale.”

The announcement did not specify the exact value of the deal, other than to say it was a “multi-million investment”.

Renix was first founded over a decade ago and moved into The Grove in 2020. Their core technology uses microscopic polymer beats to purify food products, Haas explained in a 2020 interview, in ways that are more efficient and non-polluting than traditional methods.

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And for the investors involved in this company through their incubator and accelerator phases, it’s a milestone moment.   

“We’re proud of the accomplishments of the Renix team and that we were able to provide early support to the company. Today we’re pleased to see this investment attracted to a Canadian SME in the Cleantech space,” says Carmen Gicante, executive director of Southwestern Ontario Angels Group. “We and our colleagues at BIC will continue to offer any support we can to help Renix grow.” Kieran Delamont