Published by Todd Bush on November 3, 2022
Investing in the future of our climate
HOUSTON, Nov. 2, 2022 /PRNewswire/ -- Chemicals are the building blocks of American industry. They are used to make some of the most important components of everyday life, yet there's a big problem with how they're made today. The status quo uses oil, pollutes communities, and what can't be made here gets imported from countries that don't always share our values.
>> In Other News: Fuel Tech Awarded Air Pollution Control Orders Totaling $2.7 Million
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 million 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.
We're proud that leading climate tech investors Kennivik, Lowercarbon Capital, and Refactor Capital led our round, and to count Temasek, Baillie Gifford, and prior round's lead investors that have been with us from the start like Fifty Years as our backers once again. The world can't wait, and it's good to be in business with folks who feel the same urgency to de-fossilize the chemicals industry that we do.
If you've been following the news, you know big parts of the economy are headed into a downturn right now. But, even as the rest of the world slows down, we're feeling unprecedented demand for our growing list of products and our technology is evolving faster than ever as we reinvent the way chemicals are produced. Greener, more flexible processes, capital light, and decentralized manufacturing footprints are the future of chemistry that works for the people. We're cooking up everything from carbon-negative products to value-added materials from recycled cardboard boxes.
If this sounds exciting to you, let's get in touch! We're actively looking for even more team members and customers who value greener materials and technology partners who want to change the world.
Learn More:https://www.solugen.com
SOURCE Solugen Inc.
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue ✈️ SAF Isn’t a Buzzword Anymore - It’s 2025’s Breakout Fuel 🏅 Global Energy Prize Awarded to Three Scientists From China, USA and Russia ⚡ ACES Delta I Hydrogen Production and St...
Inside This Issue 🛢️ Exxon's Gas Strike, EPA Smackdown, and Carbon Curveball 🏭 MHI Awarded Contract for Basic Design of Japan's Largest CO₂ Capture Plant at Hokkaido Electric Power's Tomato-Atsuma...
Inside This Issue 🌊 The Quiet Rise of Offshore CO2 Storage: North America's Emerging Frontier for Carbon Capture 🍁 Canada Invests in Carbon Capture and Storage in Alberta 🛰️ Vortex Energy Finalize...
Spiritus Technologies PBC Plans Santa Fe, New Mexico, Operations
Spiritus Technologies PBC, a company engaged in sustainable carbon removal, plans to establish operations in Sante Fe, New Mexico. The project is expected to create 40 jobs. The company will lease...
ACES Delta I Hydrogen Production and Storage
World’s largest green hydrogen storage facility being developed in Utah with funding from the U.S. Department of Energy (DOE) Loan Programs Office will help scale low-carbon energy for western stat...
Partnership Signals Breakthrough Collaboration in Carbon Removal and Sustainable Fuel Development for $1 Billion Clean Fuels Facility Monroe Sequestration Partners (MSP), a premier carbon storage ...
National Carbon Capture Center Launches Novel UNOGAS MK3 Solvent Testing
A significant step forward in carbon capture is underway at the National Carbon Capture Center, where KC8 Capture Technologies' (KC8) advanced UNOGAS system – featuring the innovative UNO MK3 solve...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.