Elevance Renewable Sciences, Inc., a Woodridge, Ill.-based producer of high performance ingredients for use in personal care products, detergents, lubricants and other specialty chemicals and fuel markets from renewable feedstocks, has raised $104m in Series E financing.
The round was led by Elevance Lacustrine Limited via Genting Genomics Limited (wholly owned by Genting Berhad), with participation from Total Energy Ventures International.
The investment will support the company’s strategic growth plans, including the continued development of biorefineries in Asia and North and South America.
Led by K’Lynne Johnson, CEO, Elevance Renewable Sciences creates valued specialty chemicals from natural oils using a technology called olefin metathesis. The company creates high performance ingredients for use in personal care products, detergents, fuels, lubricants and other specialty chemicals markets.
In conjunction with the funding, Tan Sri Lim Kok Thay, Chairman and CEO of Genting Berhad, will join Elevance’s board of directors.