Renmatix, a King of Prussia, PA-based developer of affordable cellulosic sugars, raised $14M in funding.
The round was led by Bill Gates and Total (NYSE: TOT).
Led by CEO Mike Hamilton, Renmatix is a technology licensor for the conversion of biomass into cellulosic sugar, an enabling feedstock for petroleum alternatives used in the global biochemical and biofuels markets.
The company’s proprietary Plantrose converts cellulosic biomass – from wood waste to agricultural residue – into sugars and additional bio building blocks.
Renmatix has a technical center in Pennsylvania, a Feedstock Processing Facility (FPF) in New York, and production operations at the Integrated Plantrose Complex (IPC) in Georgia.