A new generation of chemical entrepreneurs are seeking alternatives for common chemicals. And they’re finding favor with venture capitalists.
The most recent company to connect with financing is
The Princeton, N.J.-based company is working to create succinic acid, a chemical used to make plastics, paint, pharmaceuticals and other products. It has bio-engineered bacteria to consume carbon dioxide and a number of renewable inputs, such as corn, sugar cane and glycerol.
“We anticipate that the company will rapidly become the market leader,” says Sofinnova Managing Partner Denis Lucquin.
DNP Green Technology isn’t the only clean chemical company to collect capital from VCs lately.
In the spring, Okemos, Mich.-based
Recently, Khosla Ventures also invested $15 million in Golden Valley, Minn.-based Segetis, a startup working to pull petroleum out of the chemicals business. Last year, the company attracted Jim Stoppert to be its CEO. Stoppert, a former executive at Dow Chemical, ran that company’s collaboration with Cargill to create corn-based bioplastics.
Also, this fall, an early stage chemical development company
The stealth Menlo Park, Calif.-based startup is working to make specialty chemicals from renewable feedstock. The company has not disclosed what chemicals it will make. —Alexander Haislip