FenX: The Venture Leader Cleantech creating affordable living spaces worldwide

22.09.2022 19:00, Guillaume Tinsel

The Swiss National Startup Team welcomes new members: A jury selected 10 startups for the Venture Leaders program dedicated to the cleantech sector. During their roadshow, the Venture Leaders Cleantech will meet international investors and industry leaders and access industry-specific expertise and networks to grow their companies. Allow us to introduce you to each of the Venture Leaders Cleantech 2022 ahead of the October 2022 roadshow in Munich: Meet Etienne Jeoffroy, the CEO of FenX.

Name: Etienne Jeoffroy
Location: Turgi
Nationality: French
Graduated from: ETH Zurich, Ph.D., 2017
Job title: CEO
Number of employees: 14 
Money raised: CHF 2.2 million
First touchpoint with Venturelab: Innosuisse Start-up Training in 2017

Explain what your startup does and why: At FenX, we want to create affordable living spaces all over the world with materials produced locally and fully recyclable. Our first approach is to transform Swiss mineral waste into safe and high-performance insulation panels for improving energy efficiency and reducing the carbon footprint of buildings.
 
How and where did you come up with the idea for your startup?
FenX was born at ETH Zurich during my Ph.D. studies in the laboratory of Prof. André Studart, today co-founder of FenX. The idea of the company came after we realized the huge potential of this foaming technology to develop a sustainable solution for society. 
 
What do you expect from the Venture Leaders roadshow, and how will it help you achieve your vision?
The roadshow coincides with the kickoff of our second fundraising aiming at financing the scale-up of the production of our first product. An ideal start to meet new investors who are interested in creating impact!
 
Who does your product or solution help, and how?
Our first product (the insulation panel) helps the building industry, responsible for 36% of the worldwide greenhouse gas emissions, to tackle the safety and ecological requirements with an all-in-one insulating solution. Our product has a low CO2 footprint and the production is fully circular. 
 
What are you most excited about at work right now? 
Seeing the development of the team and the spirit to tackle challenge after challenge as a team makes and keeps me very excited. It feels great fighting together for the same purpose!
 
How did you build your team?
Throughout the development of the company, we made sure to include technical and business skills. We believe that an equilibrium between skills is essential for us to reach the goals we set for ourselves. We have tried to make sure the values of the new additions to the team are aligned with ours and that we share the same “why” behind the company. In the end, this is what makes people happy to come to work every day! 


 
Which market are you addressing and what is the potential of your startup?
We address the thermal building thermal insulation market with the goal to become a go-to solution for customers searching for sustainability. While we first want to focus on Switzerland as a beachhead market, we are interested in being active where we can maximize our impact.

What are your key achievements to date?
The setup of our production line was a tough one. Having to go from a pure “tech start-up” to producing products was a huge change in mindset and priorities for the team. The next big achievement which we’re about to reach is to deliver the products for the projects we have lined up this year.

What is your favorite podcast and why? 
Champion. It’s a French podcast interviewing athletes in different disciplines, sharing the hard side and the sacrifices behind their success. Very inspiring!

What is your favorite book and why?
Le Changement climatique expliqué à ma fille by Jean-Pierre Jancovici. This book is essential for understanding the challenges of climate change and the future that awaits us if we do nothing. Solution-oriented and very accessible.

How did you come up with the name of your startup? 
FenX (pronounced "phénix" like the French version of “phoenix”) ”) is inspired from our first materials “ashes” and it reflects our philosophy (we give a second life to materials). It’s also the name of my favorite music band: Phoenix.

What is the most challenging aspect of being a founder?
Focus! Even if you think you’re already focusing, you can focus even more.

What is the most rewarding aspect of being a founder?
Create a philosophy, build around it, have people improve it, and spread it!

Venture Leaders Cleantech is organized by Venturelab and supported by Alpian, AMAG, EPF Lausanne, ETH Zurich, EY, Helbling Technik, Romande Energie, Canton Vaud, and VISCHER and Venture Leaders alum Patrick Maillard.