Green Biologics Limited, an Abingdon, UK-based technology provider for biobutanol production, completed a £4.9m financing round.
The investment was led by new investor Capricorn Venture Partners, through its Capricorn Cleantech Fund, with participation from existing venture capital partners Morningside Ventures, Carbon Trust Investment Limited and Oxford Capital Partners, as well as management and founder investors.
The funds will be used to roll out its technology and commercialisation plans in the key markets of the company including China, India, Brazil and the US. Green Biologics provides its customers with a technology for the production of renewable butanol and other chemicals from waste and agricultural by-products.
In conjunction with this round of funding, Claude Stoufs, Senior Investment Manager at Capricorn Venture Partners, and David Brister, Operating Partner at Oxford Capital Partners, will join the company’s board.
Capricorn Cleantech Fund is supported by the European Union through the Competitiveness and Innovation Framework Programme (CIP).