Circa Group raises nearly $67.7M in financing round ahead of launch on Euronext Growth Oslo

In Norway, biochemicals company Circa Group AS has successfully completed a private placement of NOK575 million – approximately €56 million – in a transaction led by Pareto Securities and Sparebank 1 Markets in Oslo, at a post-money market valuation of approximately NOK2 billion (approximately €194 million). The company (ticker code: CIRCA) shares starts trading on Euronext Growth Oslo at 09:00 CET on Tuesday.

The private placement attracted strong interest from high-quality and global institutional investors and was more than 15 times oversubscribed (excluding pre-allocated shares). Cornerstone investors include BNP Paribas Energy Transition Fund, Delphi Fondene, DNB Asset Management, Handelsbanken Fonder, The Fourth Swedish National Pension Fund, Robeco Asset Management and Circa’s industrial partner Norske Skog ASA.

Circa is a leader in the production of sustainable biochemicals. The company has a unique and patented technology called Furacell™ for making the platform biomolecule Levoglucosenone (LGO) which is the base for a range of chemicals, including the green solvent Cyrene™. The proceeds from the private placement will be used to build the 1,000 metric ton ReSolute plant in France and to further develop the company’s portfolio of chemical derivatives. The ReSolute plant has received a €12 million flagship grant from the EU’s Horizon 2020 program.