Solugen

OEM : Chemical

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Houston, Texas, United States

VC-C; Lowercarbon Capital, Refactor, and Kinnevik, Baillie Gifford, GIC, Temasek

In 2016, we set out to radically transform the chemicals industry. What started as a pledge to first, do no harm, became a promise to bring clean, sustainable chemistry to every industry and every aspect of modern life. In the years since, we’ve opened the world’s first carbon-negative molecule factory and made plans to build many more across the US; we’ve made scalable synthetic biology a reality, and now we’re bringing high performing, cost competitive, carbon-negative products to the whole world. We combine the best elements of fermentation with the best elements of petrochemical processing to create the world’s first carbon negative molecular manufacturing platform: the Bioforge™. At 10,000 ton per year capacity, the Bioforge is the first manufacturing plant permitted in Houston without wastewater discharge or air emissions. It is powered by renewable wind energy. The Bioforge achieves highly profitable and carbon negative molecular manufacturing by simultaneously satisfying four parameters: biobased feedstocks, high selectivity, high yields, and high throughput. This enables the Bioforge to convert inexpensive feedstock directly into valuable product molecules while avoiding the formation of waste products.

Assembly Line

Solugen raises over $200 million Series D to reimagine the chemistry of everyday life

Date:

Topics: Funding Event

Organizations: Solugen, Kennivik, Lowercarbon Capital, Refactor Capital

Solugen is reimagining the chemistry of everyday life with enzymes found in nature. We make chemicals better, faster, cheaper, and without fossil fuels from right here in Houston, Texas. Whether you care about the climate, local competitiveness, or just plain old profits, we have good news: it’s working!

Our first Bioforge has been operating for a year and Solugen is running a nearly nine figure business with high margins selling commodity and specialty chemicals. We have established ourselves with top tier customers for our existing solutions and fortune 100 technology partners to build a robust pipeline of future molecules that will help us achieve our goal of 10 mil tons of CO2 removed from the atmosphere.

Last year we raised over $300m to fund our first Bioforge. Now, we’ve raised over $200m, which increases our valuation above $2b. This capital allows us to break ground on our next Bioforge and start working on 3, 4 and 5, both in the US and abroad. We will significantly grow and advance our new molecule pipeline to enable an even wider range of carbon negative and low carbon solutions for our customers and for end consumers.

Read more at Solugen Blog