EnginZyme seeks to transform the $5 trillion chemical industry through the use of its enzyme-based platform, which combines the breadth and power of nature with the efficiencies of state-of-the-art chemical processing techniques<\/p>\n
EnginZyme, a company developing a technology platform for sustainable production of chemicals, today announced it has closed an extension to its Series A financing round, bringing the total raised to \u20ac11 million. The extension round was led by Industrifonden, Sweden\u2019s largest deep tech venture capital firm, followed by SEB Greentech VC and existing shareholders.<\/p>\n
\u201cCurrent bio-manufacturing processes are too expensive and too difficult to scale to be economically feasible for most chemicals and products,\u201d said Dr. Karim Engelmark Cassimjee, CEO of EnginZyme. \u201cThis funding round will allow us to demonstrate that the problem is solvable, and that our approach is a versatile and scalable solution.\u201d<\/p>\n
More than half of the global economy\u2019s physical inputs could be produced biologically, according to a 2020 McKinsey report. The economic potential of applications based on innovative biological processes is immense — those that are scientifically feasible today could have a yearly economic impact of up to $4 trillion over the next two decades, according to the same report.<\/p>\n
EnginZyme\u2019s technology platform leverages engineered, immobilized enzymes to create a best-in-class approach that combines the breadth and power of biology with the efficiencies of the chemical industry. It thereby overcomes the limitations of fermentation and promises increased productivity at lowered costs, hence increasing the sustainability of chemical production.<\/p>\n
While other bio-manufacturing technologies often struggle to move out of the lab to deliver meaningful volumes, EnginZyme has produced catalysts at multi-kilogram scales and operated pilots capable of producing 50 tons per year of product. This year will see the company pilot production processes and advance partnerships across markets such as high-performance cosmetics, food applications, alternative sweeteners, and flavors and fragrances, testifying to the versatility and scalability of its technology.<\/p>\n
\u201cEnginZyme is demonstrating its ability to replace traditional, fossil fuel-based, energy-intensive, unsustainable chemical production with a green alternative that doesn\u2019t compromise on efficiency,\u201d said Patrik Sobocki, Investment Manager at Industrifonden. \u201cThe company represents the future of synthetic biology and the future of chemical production. EnginZyme has a blue ocean opportunity to redefine the chemical industry. We are pleased to add EnginZyme to our deep tech portfolio as it fits well with our strategy.\u201d<\/p>\n
\u201cThe climate crisis is the challenge of our lifetime. Building a sustainable future requires the rapid adoption of technologies like EnginZyme\u2019s in hard to abate sectors such as chemicals manufacturing,\u201d said Markus H\u00f6kfelt, head of SEB Greentech VC. \u201cWe are thrilled to make EnginZyme our first SEB Greentech VC investment.\u201d<\/p>\n
EnginZyme previously announced its Series A investment led by Sofinnova Partners, a leading European life sciences venture capital firm based in Paris, London, and Milan. “This milestone strengthens our early conviction in the potential of EnginZyme\u2019s unique technology to contribute to a more sustainable future. Welcome to Industrifonden and SEB Greentech VC,” said Michael Krel, Partner at Sofinnova Partners.<\/p>\n","protected":false},"excerpt":{"rendered":"
EnginZyme seeks to transform the $5 trillion chemical industry through the use of its enzyme-based platform, which combines the breadth and power of nature with the efficiencies of state-of-the-art chemical processing techniques EnginZyme, a company developing a technology platform for sustainable production of chemicals, today announced it has closed an extension to its Series A […]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","nova_meta_subtitle":"","footnotes":""},"categories":[5572],"tags":[12051,5840,11857],"supplier":[18196],"class_list":["post-85315","post","type-post","status-publish","format-standard","hentry","category-bio-based","tag-chemicals","tag-enzymes","tag-sustainable","supplier-enginzyme-ab"],"_links":{"self":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/85315","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/comments?post=85315"}],"version-history":[{"count":0,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/posts\/85315\/revisions"}],"wp:attachment":[{"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/media?parent=85315"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/categories?post=85315"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/tags?post=85315"},{"taxonomy":"supplier","embeddable":true,"href":"https:\/\/renewable-carbon.eu\/news\/wp-json\/wp\/v2\/supplier?post=85315"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}