Solugen (Loan guarantee)
Funding Details
Awarder
RSS - www.ctvc.co
Date Award
June 21, 2024
Vertical
Chemicals
Funding URL
View Funding Page
Funding Amount
$214,000,000
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
Market
Bio-based organic acids
Location
Minnesota, Minnesota, US
Coinvestors
DOE Loan Programs Office
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.

Links
Website
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