Xytel is proud to partner with Solugen, which has raised $357 million in a venture funding round led by Singapore’s sovereign wealth fund GIC, and Baillie Gifford and joined by several other funds focused on solving the climate crisis.
Chemical companies have historically used petroleum, natural gas and phosphates to make their products, exacerbating air and water pollution.
A start-up called Solugen aims to replace many of these ingredients with chemicals using renewable resources like simple sugar.
Co-founded in 2016 by CEO Gaurab Chakrabarti and CTO Sean Hunt, Solugen designs and grows enzymes that can turn sugar into chemicals that are needed to make a variety of products and used in many industrial applications.
The company’s bio-based chemical offering already includes water treatments, a chemical that makes concrete stronger, another that makes fertilizers more efficient and detergents that are strong enough to clean a locker room or mild enough to be used on facial wipes.
This article was originally published on CNBC.com. Read the full version here.
