Anellotech announces additional equity investment

By Anellotech | March 17, 2016

Anellotech, a sustainable technology company focused on producing cost-competitive renewable chemicals from non-food biomass, recently announced that it has received an additional $3 million equity investment from an unnamed and confidential multinational strategic investor and corporate partner. As previously announced on Nov. 18, Anellotech received the first $7 million tranche of this now total $10 million investment from this investor.

The capital will be used to fund the development of Anellotech’s Bio-TCat process to produce cost-competitive renewable aromatic chemicals from non-food biomass, including the installation of Anellotech’s new, fully-integrated development and testing facility (TCat-8), which broke ground earlier this year and will be operational in 2016.

“This equity investment further confirms the confidence already expressed by global leaders in process development, catalysis, engineering design, licensing and brand ownership have in the Bio-TCat process, and the opportunity for its broad application across a range of large, addressable global markets,” said David Sudolsky, president and CEO of Anellotech. “We will deploy this capital to confirm the viability and suitability of our process for scale-up, and generate the data needed to design commercial plants using Bio-TCat technology.”

Anellotech previously announced that its developmental R&D unit, TCat-8, which will be used extensively for this purpose, is now being installed at South Hampton Resources’ Silsbee, Texas facility.