• Green Biologics

  Led · Equity · Jan 2015

  Green Biologics is a UK-based renewable chemical company that uses a fermentation platform to convert biomass into n-butanol and acetone for a range of consumer and industrial applications including food, cosmetics, personal care, household and industrial cleaners, paints and inks. The company has transitioned from a development-stage to a commercial company and acquired the assets of the Central MN Ethanol Co-op, a 21 million gallon per year ethanol plant in Little Falls, Minnesota, through its Central MN Renewables LLC affiliate. The $76M financing will support that plant acquisition, repurposing the Minnesota plant to produce n-butanol and acetone, and funding Green Biologics’ advanced process technology platform. The round comprised $42M in equity and $34M in debt. Commercial-scale construction is expected throughout this year; the company plans to shut down the existing plant in Q1 next year to tie in the new technology and aims to be in full production by the end of Q2. This raise follows a $25M equity round in December 2013, bringing total fundraising to just over $100M since late 2013. Green Biologics produces renewable n-butanol using advanced fermentation technology from a wide range of feedstocks, including corn, agricultural and forestry residues, and municipal solid waste. Its core products are renewable C4 chemicals and advanced biofuels, with n-butanol serving as a backbone chemical for paints, coatings, adhesives, inks, plastics, pharmaceuticals, food ingredients, household cleaners and personal care products in a global market exceeding $6 billion. The company operates globally in Europe, North America, China, India and Brazil and maintains offices and laboratories in Milton Park, Abingdon, Oxfordshire, U.K., with U.S. offices and pilot facilities in Gahanna, Ohio. Green Biologics plans to use financing to advance commercialization efforts and proceed toward full commercial production. The company was founded in Oxford in 2003. It recently closed a $25 million Series B growth equity financing to support those commercialization plans. Green Biologics is an Abingdon, UK-based technology provider for biobutanol production. The company provides a technology to produce renewable butanol and other chemicals from waste and agricultural by-products. It completed a £4.9m financing round to support its commercial plans. Proceeds will be used to roll out its technology and commercialisation plans in key markets including China, India, Brazil and the US. The round included participation from existing venture partners as well as management and founder investors. As part of the financing, two investors joined the company’s board.

• Avantium

  Participated · Equity · Jun 2014

  Avantium is an Amsterdam-based company specialising in sustainable chemistry technologies. It focuses on developing and commercialising technologies aimed at sustainability within the chemical industry. The company launched a €65M capital increase through a fully committed and underwritten rights offering. The financing is intended to extend Avantium's financial runway until it reaches EBITDA break-even in 2027. The rights offering is structured as a fully underwritten equity raise to secure operations through that break-even target. The article does not disclose participating investors or prior funding rounds. Avantium develops renewable and circular polymer materials. The company is Dutch and based in Amsterdam. It recently secured €10M and has reached a conditional agreement with its lenders to extend and amend its existing Senior Debt Financing Agreement. Avantium is planning an equity raise scheduled for September 2025. The near-term financing activity centers on amendments to its senior debt and a forthcoming equity round. No other financial metrics or investor names were disclosed in the article. Avantium is an Amsterdam-based innovative chemical technology company advancing the YXY technology to produce 100% biobased packaging material PEF (polyethylenefuranoate). Its core product is PEF, described as a next-generation plastic with superior performance. The company intends to commercialize the YXY technology and roll out a reference plant with capacity of up to 50,000 metric tons per year in Antwerp, Belgium. Avantium has signed a letter of intent with BASF to establish a joint venture for production and marketing of the renewable chemical building block FDCA and for marketing of PEF. That joint venture intends to use the YXY process technology and subsequently license the technology for industrial-scale applications. Avantium is led by CEO Tom van Aken and recently closed a financing to support commercialization efforts. Avantium develops and commercializes YXY, a technology platform that catalytically converts plant-based materials into biobased chemicals and bioplastics such as PEF. PEF is a novel 100% biobased polyester with enhanced barrier, thermal and mechanical properties over existing packaging materials. The company supplies its technology development partners with PEF manufactured from material produced at its pilot plant in Geleen. Avantium closed a €36m financing round to support its development. It intends to use the funds to advance PEF, complete industrial validation and finalize the engineering and design of its first commercial-scale plant. The company is planning a 50,000-ton commercial plant projected to be operational in 2017 to enable the full commercial launch of the first PEF bottles to consumers. Avantium produces catalytic-derived furanics — bio-materials made from sugars or non-food carbohydrate sources — that serve as chemical building blocks for industrial plastics, textiles and fuels. The company is developing a 100 percent plant-based, fully recyclable polyester and aims to make it cost-competitive with petroleum-based equivalents. Avantium uses a catalytic process to convert carbohydrates into furanics that can replace petroleum-derived feedstocks. The new funding is earmarked in part to complete and begin operating a production plant in Geleen, the Netherlands, which had been expected to be operational earlier. Financially, Avantium raised EUR 30 million (about $43.9 million), including a EUR 25 million financing tranche plus a EUR 5 million subsidy/innovation credit from the Dutch Ministry of Economy, Agriculture and Innovation. Part of the round was also used to buy out shares held by several prior investors.

No current team members are available.