Vertichem, a Toronto, Canada-based green technology company that creates three specialty chemicals from hardwood chips (lignin, xylose and cellulose), has received $3m in capital-market funding.
The investment will be used to launch the newly formed enterprise as well as commercialize U.S. patents for its process of using woody biomass to produce high-value specialty chemicals, which are designed to be sold to the industrial, commercial, food, consumer goods and pharmaceutical markets, helping companies green their products and achieve new sustainability objectives (e.g., carbon-reduction goals).
According to Chairman and Chief Executive David Milroy, this funding will allow the company to develop an innovative range of green technology products that can make everyday consumer goods “greener”.
Vertichem plans to list on the Toronto Stock Exchange in Q1 2011
FinSMEs
01/11/2010