September 09 - 15:09
Solugen raises $357m to make sustainable chemicals from sugar
Sustainable chemicals start-up Solugen has raised $357m in a funding round led by Singapore’s sovereign wealth fund GIC, and Baillie Gifford. The company grows enzymes that can turn sugar into chemicals used in products like building materials and formaldehyde-free resins. The chemicals industry is the third-largest contributor to carbon emissions worldwide and it heavily relies on petroleum.
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