• Genomatica

  Participated · Series D · Aug 2012

  Genomatica leverages biology to remake everyday products and materials with reduced environmental impact. The company replaces widely used chemicals and materials traditionally derived from fossil fuels with plant-based alternatives. It has commercialized sustainable materials used in plastics, spandex and cosmetics, and is developing plant-based nylon, household cleaners and other products. Genomatica says its alternatives are cost-competitive, equivalent in performance and can reduce environmental impact by up to 93% compared to fossil-fuel based production. Led by CEO Christophe Schilling, the company aims to scale production across a range of industries and continue investing in new technologies to amplify the impact of sustainable materials. Genomatica recently raised funding (see deal memo) to support these plans. Genomatica is a San Diego, CA-based biotechnology company that develops bio-based process technologies to produce widely-used chemicals from alternative feedstocks. It has commercialized two processes: a biobased 1,4-butanediol (BDO) process used in biodegradable and compostable plastics and packaging, and a Brontide™ biobased butylene glycol process used in natural cosmetic and personal-care products. The company is also advancing a process to make 100% biobased nylon-6 for clothing and carpets. Genomatica partners with organism engineering firms such as Ginkgo Bioworks. The company raised $90M in equity financing to accelerate expansion of its product lines and strengthen its partnership with Ginkgo. The funds are intended to scale commercialization of existing processes and support development of new bio-based chemicals. Genomatica is a San Diego–based developer of process technologies that enable partners to produce intermediate and basic chemicals from renewable raw materials. Its core offering is economically attractive manufacturing processes intended to replace conventional petrochemical routes for chemical intermediates. The company raised $41.5 million in a Series D preferred stock financing. Management said the investment was made at a significant increase in valuation compared with a Series C-1 round announced in March 2011. New investor and partner Versalis participated alongside existing backers Alloy Ventures, Draper Fisher Jurvetson, Mohr Davidow Ventures, TPG Biotech, VantagePoint Capital Partners and Waste Management. Genomatica also withdrew a registration statement for a proposed IPO filed with the SEC on Aug. 23, 2011, saying the private financing was the most attractive option for the company and its shareholders. Genomatica develops chemicals from renewable feedstocks, converting a range of sugars into industrial molecules such as Bio-BDO. Bio-BDO is positioned to replace oil- or natural-gas-derived 1,4-butanediol in spandex, automotive plastics, running shoes and other applications. The company says Bio-BDO is made from renewable sugars and that its first commercial-scale plant will be fully operational in late 2013. Genomatica will use the new financing to bring Bio-BDO to mass market and to develop additional renewable chemicals. Financially, the company has raised $85 million in venture capital to date, including the latest $45 million round. The company is based in San Diego. Genomatica develops technologies to transform chemical production through bio-manufacturing. Its flagship process targets commercial-scale production of 1,4 butanediol (BDO), a building block for high-performance polymers, solvents and fine chemicals used in clothing, cars and electronics. The company plans to accelerate development and scale-up of that BDO process. It also intends to expand its pipeline to include additional large-market chemical targets produced from renewable feedstocks. Genomatica completed an initial $15M close of its Series C funding led by TPG Biotech, with participation from existing investors Mohr Davidow Ventures, Alloy Ventures and Draper Fisher Jurvetson. The new funds will be used to support commercialization and pipeline expansion.

• Agilyx

  Participated · Series C · Dec 2011

  Agilyx develops proprietary, patent-protected systems that economically convert difficult-to-recycle waste plastics into high-value synthetic oil. Its systems are sold to industrial and municipal waste-plastic generators and aggregators to reduce disposal costs and generate plastics-associated revenue while meeting environmental standards. In 2010 Agilyx opened a demonstration facility in Tigard, Oregon capable of processing 10 tons of plastic waste into roughly 55 barrels (~2,300 gallons) of synthetic oil per day. The synthetic oil is a drop-in replacement for fossil crude and is currently shipped to a Pacific Northwest refinery under a five-year offtake agreement signed in 2008. Agilyx was founded in 2004 and is based in Beaverton, Oregon. The company emphasizes landfill reduction and energy recovery from waste plastics as core benefits of its technology. Agilyx builds patented, brewery-like systems that thermally convert mixed plastic feedstock into a synthetic crude oil by heating materials until they vaporize and then condensing the gases. The company sells the synthetic crude through off-take deals with large refineries, often on behalf of customers that install Agilyx systems, and it also helps prospective buyers finance those systems. All installations to date have been terrestrial; Agilyx obtained its first air-emissions permits in Oregon and has four projects pending in California, expecting the largest to be permitted and operating by the end of 2011. Scaling to the mass market requires state-by-state permitting to demonstrate emissions safety. Company leadership and investors have discussed broader uses, including deploying systems on barges to address ocean plastic gyres. Agilyx competes with traditional recyclers, incinerators, landfills and alternative bioplastics but positions its process as an economic route for contaminated and mixed plastics.

• Harvest Power

  Participated · Equity · Sep 2011

  Harvest Power develops technologies and services to convert organic waste into renewable natural gas, soils, mulches and natural fertilizers, with a focus on anaerobic digestion. The company serves communities across North America through both bulk and consumer organics businesses. Founded in 2008 and based in Waltham, Mass., Harvest has grown rapidly and received multiple industry recognitions. It has been named to the Global Cleantech 100 for five consecutive years and won Bloomberg’s 2013 New Energy Pioneer Award and Fast Company’s 2014 list of Most Innovative Companies. The company announced a $20 million financing to support continued growth and product development. Leadership includes CEO Kathleen Ligocki, founder Paul Sellew (who remains as chairman of the Industry Advisory Board), and newly named Board Chairman Michael Ahearn. Harvest Power harnesses the value of organic materials by producing renewable energy, soils, mulches and natural fertilizers from food scraps and yard trimmings. The company operates organics facilities in the Mid-Atlantic and West Coast of the U.S., and in Ontario and British Columbia, Canada. Founded in 2008, Harvest has grown rapidly and earned recognition including listings on the Cleantech 100 and other awards. It expects to complete construction this year on the two largest anaerobic digestion facilities in North America. Harvest will use the new capital to continue expanding its renewable energy and compost-based fertilizer business and to scale operations. Demand from communities for maximum value extraction from organics has increased, supporting the company’s growth trajectory. Harvest Power builds an advanced technology platform to manage organic waste and recover energy, carbon and nutrient value from discarded organic materials. The company produces renewable energy in the form of electricity and natural gas and manufactures high‑value soil and organic fertilizer products. Harvest Power operates facilities in British Columbia, Ontario, Pennsylvania and California. It was founded in 2008 and is led by a management team with deep experience in composting, renewable energy, engineering and finance. The company has grown rapidly since founding and has received recognition including placement on the Cleantech 100, designation as Emerging Company of the Year by the New England Clean Energy Council, and an SBANE 2011 New England Innovation Award. The article reports a recent capital raise but does not disclose operating metrics such as revenue or user counts. Harvest Power develops technology to turn food and yard scraps into fertilizers and energy. The company is building and testing new biomass processing methods intended to be lower-cost than current anaerobic digesters. CEO Paul Sellew said recent capital will fund two large demo renewable-energy facilities in Richmond, B.C., and another site outside Toronto. The demos will allow Harvest Power to validate processing and conversion technology at scale. The company also runs a knowledge-sharing initiative called SSO Superheroes to profile projects and people recycling source-separated organics across North America. The article frames these efforts as part of the company’s push to commercialize its organic-waste-to-energy and fertilizer products. Harvest Power develops and operates facilities that convert food and yard waste into renewable energy and nutrient-rich compost. The company owns and operates the largest food and yard waste composting facility in North America, located in Richmond, British Columbia. It is developing high-solids aerobic and anaerobic digestion and composting technologies to accelerate decomposition of organic materials and increase renewable energy output. The process produces clean biogas that can be converted into electricity, liquefied natural gas, or compressed natural gas, while also generating compost products. Financially, Harvest Power has received venture funding, most recently an undisclosed investment from Waste Management and increased investments from founding backers. The company’s activities are positioned to complement larger waste-management sustainability initiatives and to expand renewable-energy production from organic waste.

• Enerkem

  Participated · Equity · Jul 2011

  Enerkem produces biofuels and chemicals from non-recyclable municipal waste, including biomethanol produced at its full-scale Edmonton facility. The company owns a full-scale commercial facility in Alberta plus a demonstration plant and a pilot facility in Quebec. Enerkem is developing additional modular biorefineries in North America and globally to scale its technology. Led by president and CEO Vincent Chornet, the company has initiated production of biomethanol from household garbage at its Enerkem Alberta Biofuels facility in Edmonton. Enerkem recently secured financing to support product expansion at the Edmonton plant and to fund the company’s global growth plans. The financing package reflects a mix of debt and private placements tied to near-term commercial expansion. Enerkem develops thermo-chemical technology that converts unrecyclable household garbage, demolition debris and other waste into chemical-grade syngas for production of advanced ethanol, bioacetates and intermediate chemicals. The company is led by President and CEO Vincent Chornet and is based in Montreal, Canada. Enerkem currently operates two facilities in Quebec and in 2010 began construction of a municipal waste-to-biofuels plant in Alberta. It expects to develop a similar facility in Mississippi with financial support from the USDA and U.S. DOE. Financially, Enerkem recently closed a $30.3M financing (corporate equity and corporate debt) and had previously announced a separate US$60M equity funding round with existing backers participating. The new funds will allow Enerkem to further develop its commercial activities. Enerkem is a Quebec-based company that converts waste into clean fuel and chemicals. It uses unrecyclable household garbage, demolition debris and used utility poles to produce advanced ethanol, acetates and other clean chemicals. The company currently operates two facilities in Quebec and in 2010 began construction of a municipal waste-to-biofuels plant in Alberta. In 2011 it expects to start building a similar facility in Mississippi. Enerkem is led by CEO and president Vincent Chornet. The company recently closed a US$60m financing round. Enerkem develops a proprietary thermo-chemical process that converts waste materials into biofuels such as ethanol and other advanced chemicals and electricity. Its technology can process diverse carbon-based feedstocks, including sorted municipal solid waste, construction and demolition wood, and agricultural and forest residues. The company operates a pilot facility in Sherbrooke and a commercial-scale plant in Westbury, completed in 2009. Enerkem is initiating construction of a second waste-to-biofuels plant in partnership with the City of Edmonton and Alberta Innovates. It is also developing a similar project in Mississippi and was awarded US$50m in funding by the U.S. Department of Energy. The company recently closed a CDN $53.8m financing to support this growth plan.

• MicroGREEN Polymers

  Participated · Series B · May 2010

  MicroGREEN Polymers develops and applies its patented Ad-air® technology to reduce plastic usage in the production of consumer products. The company will begin offering a line of Ad-air enhanced rPET sheets in various gauges for converters later this year. It also plans to launch a converted product: a low-density, thermally-insulating beverage cup that is recyclable and made from recycled material. The recent financing will enable the company to hire additional engineering, sales and marketing staff and expand commercial production capabilities. The company has received strategic interest from Waste Management as part of this round, aligning with Waste Management’s sustainability goals to triple recyclables processed by 2020 and to invest in emerging waste-management technologies.

No current team members are available.