Bloom Biorenewables secures $4.75M in seed funding led by Gates venture fund

February 23, 2021 |

In Switzerland, Bloom Biorenewables closed its Seed Round of funding, resulting in a total of €3.9 million raised from dilutive and non-dilutive sources. This new investment confirms the potential of the company to act as a leader in sustainability and accelerates the market entry of its bio-based solutions. Bloom’s products are specifically designed to substitute unsustainable fossil- sourced carbon in materials and fuels, a crucial step in the fight against global CO2 emissions.

The round was led by Breakthrough Energy Ventures-Europe (BEV-E). It links European Investment Bank funding guaranteed by the European Programme for Research and Innovation, Horizon 2020, with long-term risk capital in order to accelerate global decarbonization and support clean energy innovations reaching the market – faster, more efficiently, and in more places in Europe. Other investors in the round include Berlin-based Beyond Black Venture Capital fund and several Angel Investors, that will provide strategic support for upcoming growth.

The proceeds from the Seed Round will be used by the EPFL startup for the development and market validation of its first products, including marine biofuels, plastics and fragrances. In addition, Bloom will grow its team and establish an independent R&D facility with sufficient production capacity to unlock the last barrier towards commercialization.

Bloom says its technology offers the possibility to break through current limitations. With its aldehyde-assisted fractionation (AAF) technology, it efficiently separates the cellulose fraction while stabilizing lignin polymer and hemicellulose-derived sugars. These stabilized structures allow, for the first time, to valorize the full potential of lignin and hemicellulose.

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Category: Fuels

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