[LE JOURNAL DES ENTREPRISES] Olikrom raises €4.5 million to industrialize its pigments

The start-up specializing in the production of intelligent pigments for industry has just completed a second round of financing. The 4.5 million euros will finance OliKrom’s new site in Pessac (Gironde). It will house the company’s head office, R&D center and pilot production unit.

His breakthrough technology was born on the bench of a university laboratory in Pessac, Gironde. More than a decade later, Jean-François Létard remains attached to the town that saw the birth of OliKrom. That’s why he chose Pessac as the location for his new site, which will be delivered in a few weeks’ time. 1,600 m2 dedicated to the pre-industrialization of its innovations: inks and paints formulated from intelligent pigments capable of changing color when there is a disturbance in temperature, light or pressure.

OliKrom raised 4.5 million euros from its historical investor – the French fund Starquest Capital – as well as from Social Family, Bpifrance, Banque Populaire Aquitaine Centre Atlantique, the Nouvelle-Aquitaine Region and the Ademe “Route du Futur” program, of which OliKrom is the winner in consortium with Eiffage.

A round of financing completed in just three months. In less than four years of existence, the start-up has demonstrated its solidity. Its pigments are already used by some of industry’s finest names: Airbus, Eiffage and Turbomeca. These are just some of the prestigious customers who have helped secure the company’s investors.

OliKrom, A site up and running by autumn

“Since our creation in 2014, we’ve achieved several crucial milestones very quickly,” details CEO Jean-François Létard. “In recent months, our growth has accelerated even further. It has become urgent to reinforce our teams (14 employees, editor’s note) and to equip ourselves with a high-performance industrial tool, capable of absorbing a strong increase in activity.” The new site – which should be operational by autumn – will be able to produce around one tonne of pigments per month.

“This is sufficient capacity for certain markets. But for the road sector, for example, as part of our partnership with Eiffage, we’ll need much higher volumes. First of all, we’re going to demonstrate that we’re capable of industrializing our production. Then, in two or three years’ time, if all goes well, we’ll need a plant sized to produce around ten tonnes a month”, anticipates the founder. “This future plant, if we have to build it, won’t necessarily be located in Pessac, depending on volumes. But we’ll definitely stay close to Bordeaux. We want to remain anchored in Aquitaine”, he assures us.

Recruiting to step up the pace

In the meantime, OliKrom is planning its imminent move and trying to find the right recipe for a successful production start-up. “The building is designed to accommodate 30 to 50 employees. We’ll be recruiting to coincide with the increase in production rate. We need to anticipate and at the same time be pragmatic. We can’t oversize our needs. It’s always a compromise, a risk-taking exercise that needs to be as measured as possible,” moderates Jean-François Létard. A cautious approach which, no doubt, convinced the investors!