Turgi, Switzerland — October 1st 2025 — FenX, a Swiss startup pioneering sustainable insulation materials for buildings, today announced the successful closing of its Series A funding round.
FenX successfully raised CHF 8.2 million in its Series A round. The financing was led by Supernova Invest and Move Energy, with participation from Zürcher Kantonalbank, Cimsa, 4see ventures, ETH Zürich Foundation, buildify.earth, and several Swiss and French family offices.
Born out of ETH Zurich, 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 facades and interior applications, and deliver the combination the market is asking for: A1 non-combustibility, strong performance, circular inputs, and cost competitiveness. FenX will use the funds to industrialize its mineral foam technology, accelerate strategic partnerships, and launch new product lines.
FenX AG 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.”
Strategic momentum and first industrial roll-out
FenX is executing an asset-light model: customers in the construction insulation industry deploy production units which are engineered in collaboration with FenX’ machinery partner MASA WhiteHub. Customers license FenX technology and receive FenX foaming additives tailored to customers’ mineral feedstocks. FenX’ first customer, Cimsa, is commissioning an industrial line in Spain, to produce mineral insulation panels based on FenX technology. It will commercialize the product, with initial production targeted toward the end of 2025.
Mirjam Terhorst, Partner at Move Energy: “The built environment needs solutions that
decarbonize without compromising safety or performance. Moreover, it is important that
such innovations are cost-competitive to incumbent alternatives. FenX perfectly aligns with our investment strategy. We’re excited to support the team as they expand partnerships, ramp up manufacturing and bring new products to market.”
Looking Ahead
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.
“We design for impact across the full lifecycle—from manufacturing to end-of-life,” Jeoffroy added. “Mineral foams have the potential to trigger a mindset shift across the entire construction industry. We’re just getting started.”
About FenX
FenX (founded in 2019, ETH Zurich spin-off) is developing a mineral foam technology for the construction industry. Its proprietary technology enables the production of lightweight, fire-resistant, and sustainable insulation panels. FenX partners with leading machinery provider and building materials manufacturers to deploy decentralized production close to end markets. FenX has received multiple awards, including the Swiss Technology Award, Venture Kick I-II-III, and the W. A. de Vigier Award, and is supported by ETH Zurich, Innosuisse, Horizon Europe, and the Swiss Climate Foundation, among others.
www.fenx.ch
About Move Energy
Move Energy is an early-stage venture capital firm dedicated to supporting companies pioneering hardware and software solutions to decarbonize the power, transport, and buildings sectors. With a focus on impact-driven investments, Move Energy aims to support the next generation of transformative ventures contributing to a more sustainable world. Move Energy is headquartered in Amsterdam.