Vexxel – a CATAL1.5°T accelerator success story from Argentina
In Argentina, a groundbreaking start-up is making strides in the agriculture sector by introducing innovative, sustainable, and affordable practices. Vexxel, co-founded by CEO Mili Romano, is pioneering the development of biodegradable nano-capsules that reduce the need for harmful chemical fertilisers, aiming to transform agricultural practices and contribute to a greener future. CATAL1.5°T supported Vexxel's business approach, making them more competitive and better positioned for fundraising by providing a new mindset on business and essential connections in a challenging landscape where biotech is sometimes overlooked.
Harnessing the power of nature
Vexxel’s vision is to leverage the power of nature to make the productive matrix more sustainable. “If we do not change the way we are producing food today, soils will become increasingly less fertile, food will become progressively less nutritious, and with scarce resources, prices will also tend to rise. We believe this could lead to widening gaps in society,” Mili explains the reason and the need for their solution. When she met her co-founders at a Latin American biotech accelerator, they had already been researching the protein Vexxel now works with for the past 20 years. With Mili’s knowledge of agriculture – her family has been entirely dedicated to agriculture over generations – they found the field of application where their solution can have the largest impact. As Mili recounts: “For us, it was clear that we needed to solve the way inputs are applied today and correct all the damage they are causing to our planet.”
But how do they do it? Vexxel has developed innovative, biodegradable biocapsules that function like a targeted medicine for plants. Just as you take a pill only when you're ill, these biocapsules release agricultural inputs precisely when and where they are needed, triggered by sensors based on real-time environmental conditions. This on-demand technology reduces the unnecessary use of synthetic fertilisers and pesticides, thereby protecting the entire ecosystem – soil, plants, and water – from the harmful effects of chemicals and over-application, much like how overusing medication can harm your body. By ensuring balanced nutrient supply, Vexxel's solution promotes healthier soils, enhances crop nutrition, and contributes to more sustainable agriculture, while still being affordable and competitive.
The technology not only improves crop yields but also has a profound impact on reducing CO2 emissions. Synthetic fertilisers alone contribute to around 1.5% of total CO2 emissions. Research indicates that improving soil health can sequester between 0.4 to 1.2 billion tons of CO2 annually. For example, if a farm using 100 tons of synthetic fertiliser annually switches to Vexxel’s biocapsules, it could save approximately 150 tons of CO2 per year, significantly reducing its carbon footprint.
The role of CATAL1.5°T in Vexxel’s journey
Participating in the CATAL1.5°T accelerator programme has been a transformative experience for Vexxel. The programme has provided essential tools, insights, mentorship, and resources, helping Vexxel integrate sustainability into every aspect of their business by emphasising the importance of ethical and structured practices. “CATAL1.5°T helped us realise that creating real impact goes beyond having innovative technology; it requires a comprehensive approach. CATAL1.5°T mentors changed the way we think about business, making us more competitive, refining our strategies and operations, and be better prepared for future challenges,” says Mili.
Felipe González Rosas, the Climate Entrepreneurship Director at Tec de Monterrey and the lead of the CATAL1.5°T Accelerator team in Latin America, shares his perspective on why Vexxel was chosen as a finalist in the programme: “Mili struck us as a founder who can deliver on a complex promise. Their technology is not straightforward, and the lab plus market testing time will be longer than for other start-ups, but Mili and her team are convinced that it has enormous potential to make food and agriculture more sustainable.”
Promoting female leadership in climate tech
“It is the perfect time to have the courage to just do it because there's a lot of support from ecosystems and networks that offer female founders a lot of incredible opportunities. And they should seize them, as research shows female leadership can enhance profits and metrics.”
Mili Romano, co-founder and CEO of Vexxel
Mili’s journey in the climate tech sector is a testament to the power of female leadership. While still being mostly the only women at client meetings, she is sure that this is about to change: “It’s a great time for female leaders and founders. Though the majority of people in leading roles are still male, I see more and more women in the industry and at events.” She emphasises the importance of role models and networks in breaking barriers and paving the way for more women to take on leadership roles in climate tech. “It is the perfect time to have the courage to just do it because there's a lot of support from ecosystems and networks that offer female founders a lot of incredible opportunities. And they should seize them, as research shows female leadership can enhance profits and metrics,” she adds.
However, she is advocating for a fair approach where everyone should stop comparing male and female leaders. Vexxel's success is based on fostering an inclusive environment where the best person for the job, regardless of gender, is provided the opportunity to contribute.
Impact and the future
“The level of innovation that we see in the Argentinian biotech ecosystem is amazing, and we think that Vexxel can be a poster child of that,” said Felipe, as he sums up the insightful collaboration with Vexxel. Vexxel’s solution addresses critical issues such as soil degradation, chemical dependency, climate change, and economic sustainability for farmers, ultimately transforming agriculture into a more sustainable and efficient practice. By reducing the dependency on chemical fertilisers, they are helping to preserve soil health, improve food quality, and reduce greenhouse gas emissions.
Additionally, Vexxel offers consulting services to help farmers implement their biocapsule technology effectively and collaborates in research and development to continuously innovate. Currently, they’re preparing to launch their first product in Mexico – a biodegradable anti-fungicide that eliminates all the chemicals needed to kill fungus as well as extending the product’s shelf life by five times. They are also seeking to expand their partnerships and secure additional funding to continue their growth and impact.
“Networks and support systems are vital for our success. The connections we’ve made through the CATAL1.5°T programme have been invaluable, and we’re excited to continue this journey,” Mili says. We can’t wait to see where that journey is going, and are glad to support Vexxel with our accelerator programme to lead the way in sustainable agriculture. The success story of the innovative start-up and its co-founder and CEO demonstrates the powerful role that nature and female leadership can play in driving innovation and making a lasting impact on the environment.
The CATAL1.5°T Initiative is funded by the international Green Climate Fund (GCF) and the German Federal Ministry for Economic Cooperation and Development (BMZ). It is implemented by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH in cooperation with EIT Climate-KIC, Tecnológico de Monterrey, and Investisseurs & Partenaires (I&P).
