Periodic Reporting for period 1 - Adsorbi (Market & Technology Analysis)
Reporting period: 2023-07-01 to 2024-03-31
Adsorbi is a startup company based in Gothenburg, Sweden. The company was founded after several years of research at Applied Chemistry in Chalmers University. The result of the research project was a so-called adsorbing material produced from cellulose that can capture pollutants with high effectiveness and capacity. The adsorbent can compete with the industry standard for pollution removal, activated carbon, in performance, cost-effectiveness, and sustainability. The company Adsorbi was founded in 2022 to commercialize and scale the innovation. The aim of the project has been to perform a market & technology analysis to identify in which application areas and markets the company should focus their activities. The result is a selection of target market segments where customers (manufacturers of air purification products) are experiencing problems with activated carbon or a desire from end-users to introduce new materials. The activities in the project have been technology development, in the form of material development and evaluation in different applications, and business development through working with several potential customers, building business cases, and prioritizing between market segments. Additionally, there has been an update to the IP strategy of the company. The project was divided into several work packages:
Part A - Market analysis: Identify new potential application areas and strengthen knowledge in existing areas.
Build business case based on estimated production cost.
Part B - Technology feasibility study: Perform initial tests in the lab to evaluate the feasibility of the application
areas, reach TRL 2-3 in identified application areas
Part C - IP strategy evaluation: Reformulate the IP strategy to cover the identified and attractive application areas
and products
Part C – Business Case: Develop business cases with the purpose of identifying first products and customers.
The next step of the company is to continue working in target segments and scaling the production process.
Part A - Market analysis: Identify new potential application areas and strengthen knowledge in existing areas.
Build business case based on estimated production cost.
Part B - Technology feasibility study: Perform initial tests in the lab to evaluate the feasibility of the application
areas, reach TRL 2-3 in identified application areas
Part C - IP strategy evaluation: Reformulate the IP strategy to cover the identified and attractive application areas
and products
Part C – Business Case: Develop business cases with the purpose of identifying first products and customers.
The next step of the company is to continue working in target segments and scaling the production process.
Using data and insights from discussions with potential customers, technical parameters were identified stating what will be required from the material in different application areas. The material was evaluated in the lab according the parameters for each application in a systematic approach either in the Adsorbi lab or by potential customers themselves. These parameters were as follows:
a) form factor - shape and mechanical properties required for the application area. E.g. the material needs to have a certain hardness in most applications
b) pollutant type (molecule) - what pollutants are present in the environment and does the Adsorbi material perform well with these pollutants
d) airflow velocity - many application areas evaluated need adsorbents to be performing in an airflow, e.g. in an air filter. Depending on the application area the airflow velocity varies.
Depending on the application area parameters, the feasibility of the Adsorbi material working in said conditions was evaluated. Along with the technical development and evaluation, the business potential of each market segment has been evaluated. This work has been performed through interviewing potential customers, manufacturers of air purification products, and in some cases let the potential customers evaluate the material prototypes in their own labs. Based on the insights, business cases has been designed to validate that there can be an attractive business model in the segments.
At the end of the project, four main areas of applications were evaluated of which three show potential as first areas of commercialisation: packaging, air fresheners, and air filters.
a) form factor - shape and mechanical properties required for the application area. E.g. the material needs to have a certain hardness in most applications
b) pollutant type (molecule) - what pollutants are present in the environment and does the Adsorbi material perform well with these pollutants
d) airflow velocity - many application areas evaluated need adsorbents to be performing in an airflow, e.g. in an air filter. Depending on the application area the airflow velocity varies.
Depending on the application area parameters, the feasibility of the Adsorbi material working in said conditions was evaluated. Along with the technical development and evaluation, the business potential of each market segment has been evaluated. This work has been performed through interviewing potential customers, manufacturers of air purification products, and in some cases let the potential customers evaluate the material prototypes in their own labs. Based on the insights, business cases has been designed to validate that there can be an attractive business model in the segments.
At the end of the project, four main areas of applications were evaluated of which three show potential as first areas of commercialisation: packaging, air fresheners, and air filters.
The project showed great potential in replacing activated carbon in numerous and varied applications. It was clear from discussions and testing with potential customers that there is a willingness to replace materials with bio-based solutions if they outperform the existing solutions. The impact of replacing activated carbon is a transformation of the value chain for air purification from Asia and coal to Europe and forest-based materials. Also, a significant reduction in total material use since the high capacity of Adsorbi materials enables a longer lifetime of e.g. an air filter. To ensure success in commercializing the innovation, deepened cooperation with potential customers is required to ensure commercial proof since there is a need to finance the commercialisation with external capital. The capital is required to scale up the production process.