Funding
Green Biologics Ltd (GBL) has closed an investment round of £4.9 million, led by new investor Capricorn Venture Partners, with the existing investors, Morningside Ventures, Carbon Trust Investment Limited, Oxford Capital Partners, the company’s management and founder investors.
Claude Stoufs, Senior Investment Manager at Capricorn Venture Partners, and David Brister, Operating Partner at Oxford Capital Partners, will join the Board of GBL.
Sean Sutcliffe, GBL Chief Executive, said the investment underlines the leading position GBL has taken in commercialisation of bio-butanol. “Funds raised will allow us to accelerate our commercialisation programme in our key markets of China, India, Brazil and the US, by providing customers with retrofit packages to convert ethanol plants to bio-butanol, and with fermentation and process technology for existing and new build bio-butanol plants.”
The money will also allow GBL to continue to invest in its technology development programme, which aims to reduce the cost of producing bio-butanol from agricultural by-products and waste feedstocks.
Stoufs said the areas of biochemicals and biofuels represent an important part of Capricorn’s cleantech investment strategy. “We anticipate that GBL will be the first company in the world to have its advanced proprietary industrial fermentation technology used at full industrial scale to produce bio-butanol at competitive prices compared to butanol obtained [from petroleum].”
GBL, based near Oxford, supplies bio-butanol retrofit technologies for both existing bio-butanol and bio-ethanol plants, as well as technology and plant designs for new build bio-butanol plants.
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