Solugen, a Houston, TX-based company which aims to decarbonize the chemicals industry, raised over $200m, which increased its valuation above $2 billion.
Backers included leaders Kennivik, Lowercarbon Capital, and Refactor Capital, with participation from Temasek, and Baillie Gifford.
The company intends to use the funds to break ground on its next Bioforge and start working on 3, 4 and 5, both in the US and abroad. They will grow and advance their new molecule pipeline to enable an even wider range of carbon negative and low carbon solutions for our customers and for end consumers.
Solugen makes chemicals without fossil fuels. Its first Bioforge has been operating for a year and the company is running a nearly nine figure business selling commodity and specialty chemicals. They have established ourselves with top tier customers for existing solutions and fortune 100 technology partners to build a pipeline of future molecules that will help us achieve our goal of 10 mil tons of CO2 removed from the atmosphere.
FinSMEs
03/11/2022