DigestAI looks at Låkril Technologies

● Låkril Technologies’ process for producing bio-based acrylic acid is more sustainable and cost-effective than traditional methods, as the company’s catalyst achieves 90% yields of acrylics from lactic acid. This high yield allows bio-based acrylics to be cost-competitive with petroleum-based acrylics. Låkril Technologies’ catalyst has also been shown to be regenerable, which further reduces costs.

● The use of corn-derived lactic acid as a feedstock for Låkril Technologies’ process is particularly game-changing. Corn is a renewable resource, and the production of lactic acid from corn can be done in a sustainable way. Additionally, the cost of lactic acid has dropped significantly in recent years, making it a more cost-effective feedstock for producing acrylic acid.

● Låkril Technologies’ technology has the potential to disrupt the acrylic acid market and promote the use of sustainable chemicals. The global acrylic acid market is valued at $11 billion and is expected to grow at a CAGR of 4-6% between 2023-2032. If Låkril Technologies can capture a significant share of this market, it could have a major impact on the sustainability of the chemical industry.

● Låkril Technologies has a strong intellectual property position. The company has an exclusive license to a patent application covering the key catalyst formulation and the basic process of lactic-to-acrylic transformation.Låkril Technologies has also filed its own patent applications covering catalyst compositions, processes for using catalysts, processes and apparatuses for converting lactic feeds to acrylic products, and separation systems used for conversion processes.

● Låkril Technologies has a clear go-to-market strategy. The company plans to license its technology to acrylic acid producers and catalyst manufacturers. Låkril Technologies is also in discussions with potential customers in a variety of industries.

However, some risks are also associated with Låkril Technologies. These include:

● The company has yet to prove its process at a scale larger than 1 kg/day. Scaling up the production of acrylic acid from lactic acid could prove to be challenging.

● Competition in the bio-based acrylic acid market is increasing. Several large chemical companies are developing their own bio-based acrylic acid technologies.

● Låkril Technologies’ business model relies on a three-way partnership between an acrylic acid producer, a lactic acid producer, and itself. This could be a complex arrangement to manage.

Overall, Låkril Technologies is a promising company with game-changing technology that has the potential to disrupt the acrylic acid market and promote the use of sustainable chemicals. However, the company faces some challenges, including the need to scale its technology, compete with incumbent producers, and manage a complex business model.