Solugen Raises $200 Million at a $2 Billion Valuation

Solugen is a start-up which mission is to decarbonize the industry of chemicals. Combining synthetic biology with metal catalysis, Solugen is able to produce carbon-negative chemicals. They replace petroleum-based products with plant-derived substitutes.

The funding round Series D was led by Kennivik, Lowercarbon Capital, and Refactor Capital. Previous backers such as Fifty Years, as well as Temasek and Baillie Gifford also took part in the round. The new infusion will be used for the growth and advance of the new molecule pipeline to provide Solugen’s customers with a wider variety of carbon-negative and low-carbon solutions.

Solugen, Houston, USA, was founded by Gaurab Chakrabarti and Sean Hunt in 2016. Solugen designs and grows enzymes to grow chemicals to replace petroleum, natural gas, and phosphates. As of now, the company’s offering includes water treatments, a chemical that makes concrete stronger, moreover the ones that make fertilizers more efficient. With the recent investments, the company can start the construction of the next plant, besides developing the other 3 facilities it already has.

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