Phycus Biotechnologies Inc. – founded by Vik Pandit, a ChemE PhD alumnus who was supervised by Prof. Krishna Mahadevan – will receive a grant totaling $375,000 through the Low Carbon Innovation Fund. The grant will help the company develop its innovative technology platform for producing biobased chemicals from CO2. The University of Toronto’s BioZone will collaborate on the project.
“We’re thrilled to have been awarded the grant. It will really help us to accelerate our development activities and bring our low carbon technology to market sooner,” said Pandit, now CEO of Phycus Biotechnologies Inc.
“By the end of the project, we will be ready to begin pilot production at the 1000-litre scale.” added Christian Euler, the Company’s Director of Strain Engineering and current PhD student supervised by Prof. Mahadevan. “We are looking to expand our development team and bring on three new scientists to help us get there.”
The platform being developed by the company is an enabling technology that makes it possible to convert point source emissions of carbon dioxide to value added chemicals. Chemicals produced from petro-based sources today cause greenhouse gas emissions. By producing these chemicals from CO2 instead, the company hopes to develop a path forward towards more sustainable chemical manufacturing, and help Ontario and Canada reduce its greenhouse gas emissions.