Funding Details
- Awarder
- RSS - www.ctvc.co
- Date Award
- June 21, 2024
- Vertical
- Chemicals
- Funding URL
- View Funding Page
Company Info
- Founding Year
- 2005
- Traction
- Solugen's technology has been validated through a pilot facility in Houston, showcasing its effectiveness in producing bio-based organic acids. The company's partnership with ADM in Minnesota further strengthens its position in the bioindustrial manufacturing sector.
- Organizations Involved
- DOE Loan Programs Office, ADM
- Founders
- Gaurab Chakrabarti
- Company Description
- Solugen is a sustainable chemicals company focusing on producing bio-based organic acids. They have secured a $214m loan guarantee from the DOE Loan Programs Office to build their second commercial plant in Minnesota, known as the 'Bioforge' facility. Solugen's scale-up journey involves transitioning from FOAK to NOAK, emphasizing climate-friendly solutions.
- Market
- Bio-based organic acids
- Location
-
Minnesota,
Minnesota,
US
- Coinvestors
- DOE Loan Programs Office
Links