TEST1
Test1, headquartered in Brescia and with an office in Edinburgh, has as its mission the reduction of the carbon footprint of production activities and the protection of the marine ecosystem from the problem of oil spill. Every year, globally, between 3.5 and 6 million tons of oil are spilled into the waters, and in the Mediterranean alone, 600,000 tons of hydrocarbons. To date, the average recovery rate of the spilled hydrocarbon is between 5 and 20 per cent of the total.
The start-up has developed FoamFlex200, a patented polyurethane sponge capable of absorbing hydrocarbons up to 30 times its own weight, recovering large quantities of oil in a short time and in full compliance with the parameters of the circular economy. It is indeed a product that can be reused up to 200 times and allows not only to recover spilled oil, but also to put it back into production.
The solution already has a positive track record to its credit, since its debut in 2018 in the Canary Islands, where a 150-tonne oil spill occurred. On that occasion, 70 kg of FoamFlex made it possible to collect 55% of the spilled oil, making 57 tons of it reusable.
Round
LIFTT Investment
In portfolio: Q3 2023
Venture phase: Start-up
