Rivertop Renewables, a Missoula, Montana-based renewable chemicals company, has received a $1.5m bridge round investment from Cultivian Ventures.
The company intends to use the funding to continue the commercialization of its sustainable, bio-based detergent builders and corrosion inhibitors, as well as to expand its facilities for continued research and development as well as pre-commercial production.
Led by President Jere Kolstad, Rivertop has developed an innovative technology to produce renewable chemicals. The company’s first products are salts of glucaric acid used as an effective and cost-competitive replacement for phosphates in the global detergent market and the corrosion and scale inhibition markets to protect industrial infrastructure without damaging water quality. Longer-term opportunities exist in Rivertop’s research with advanced biodegradable polymers, adhesives, and other functional materials.
In conjunction with the investment, Cultivian Co-Founder and Principal Ron Meeusen will join the company’s Board of Directors.
Cultivian Ventures is a venture fund focused on high technology opportunities in the food and agricultural sectors.
FinSMEs
03/11/2011