Inventure closes $5M financing round, will build green chemicals pilot plant

In Alabama, Inventure Renewables and its sister company, Inventure International, have closed a $5 Million round of financing with an option to increase funding in a second tranche to a total of $12 Million. Lead investor Wilmar International has taken an equity stake in both companies.

A portion of the funds will be used to build and operate a pilot plant to convert palm fiber waste and sugar cane bagasse into mixed sugars, which can be used for fermentation into ethanol, butanol, and the creation of carbon-neutral building blocks for a range of industrial chemicals frequently fabricated from petroleum.