FenX is developing a breakthrough mineral foam technology to replace conventional mineral wools and EPS (expanded polystyrene) panels in building insulation. The company’s lightweight insulation panels—often described as “stones made of ~98% air”—are produced via a low-energy process, designed for façades and interior applications, and deliver the combination the market is asking for: A1 non-combustibility, strong performance, circular inputs, and cost competitiveness.

The ETH spinoff is executing an asset-light model whereby customers in the construction insulation industry deploy production units that are engineered in collaboration with FenX’s machinery partner MASA WhiteHub. Customers license FenX technology and receive FenX foaming additives tailored to customers’ mineral feedstocks. Additionally, to further scale its solution, the startup’s’ first customer, Çimsa, is commissioning an industrial line in Spain, to produce mineral insulation panels based on FenX technology. The latter will commercialize the product, with initial production targeted toward the end of 2025.

The fresh investment of CHF 8.2 million will enable the startup to industrialize its mineral foam technology, accelerate strategic partnerships, and launch new product lines. The round was led by Supernova Invest and Move Energy with participation from Zürcher Kantonalbank, Cimsa, 4see Ventures, buildify.earth, and several Swiss and French family offices. 

Marine Glon, Investment Director at Supernova Invest: “We have been impressed by the FenX team’s strong expertise and vision, and by their ability to bring the insulation market a disruptive and low carbon product that is cost competitive. Their asset-light business model gives them a unique advantage to scale rapidly, and Supernova Invest is proud to support FenX ambition to redefine sustainable insulation for the built environment.”

With the first factory now underway in Spain, FenX is demonstrating the full-scale deployment of its technology, laying the foundation for international growth through strategic partnerships with leading construction materials companies. Beyond insulation panels, FenX is also investing in its technology development to address broader needs in construction. From semi-structural materials to carbon sequestration, the company is exploring new applications of its mineral foam platform technology, always guided by the same principle: maximizing performance with minimal resources.

Etienne Jeoffroy, CEO and co-founder of FenX: “This investment marks a major milestone in our journey to decarbonize the construction industry, which accounts for over 30% of global CO2 emissions. We are proud to have the support of reputable and knowledgeable investors who share our commitment to sustainability and innovation. With this funding, we are ready to validate our technology at full scale.”

(www.startupticker.ch)