November 5, 2009

More venture capital for green chems

Renewable chemical companies seem to be getting better in raising money from venture firms these days.

An article from Reuters cited the recent news (which I also posted in my news roundup) about biosuccinic acid producer DNP Green Technology raising $12m from venture firms Sofinnova Partners, Mitsui & Co., Venture Partners, Samsung Ventures Investment Corp., Clifton Group, and AquaRIMCO. All are new investors except for AquaRIMCO.

Reuters also noted other examples such as bioplastic developer Novomer when it raised $14m in August; Draths Corp. with $21.7m in spring; Segetis with a $15m start-up investment from Khosla Ventures in 2007; and recently Rennovia, where I posted in September about their $6m seed funding from 5AM Ventures and Versant Ventures.

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