DSM Venturing, the corporate venturing unit of Royal DSM N.V., has invested an indisclosed sum in Golden Valley, Minnesota-based green chemistry company Segetis, Inc.
DSM Venturing joins Khosla Ventures and the Malaysian Life Sciences Capital Fund (managed by Burrill & Company) in this financing round.
Segetis has developed renewable chemistry which enables the use of non-food agricultural and forestry feedstock for production of sustainable materials. The company produces chemical building blocks (monomers) called levulinic ketals which can be used to make new classes of chemicals and plastics with improved health and environmental footprint as well as novel performance attributes.
In February 2009, Segetis opened a semi-works production facility in Minnesota, which, at its full capacity, produces up to 250,000 pounds per year of chemical and chemical building blocks sourced from renewable resources.
DSM has made the investment to support its ambitions to develop bio-based performance materials to meet customers’ growing demand for improved performance and environmental benefits at competitive costs.