Bio-Sep secures $1.7m in seed funding led by Enterprise 100 Club and ACF Investors to fund a Scottish commercial plant.
The oversubscribed seed round will support staff recruitment and design work for a commercial plant in Scotland.
≈ £1.4M at $1 = £0.8162 on 22 Jun 2022
Bio-Sep converts low-value woodchips into high-value biochemicals to replace petrochemicals and decarbonise the chemicals industry.
Bio-Sep has secured $1.7m in an oversubscribed seed funding round to support its commercial plant development. The round was led by Enterprise 100 Club and ACF Investors, alongside participation from a specialist climate and clean energy hedge fund.
The fresh capital will be directed towards recruiting operational staff for the firm pilot plant and designing a large-scale commercial facility in Scotland. The planned plant is designed to process 13,000 tonnes of wood annually, with construction slated to begin in 2023.
Founded in 2010 by Stephen Brooks, the company utilises patented ultrasound technology to transform sawmill sawdust into chemical building blocks such as microcrystalline cellulose, hemicellulose hydrolysate, and natural lignin.
From the founder
"Our technology takes a low-value forestry co-product and turns it into essential chemical building blocks, with all manner of applications across the chemical industry and beyond, delivering significant environmental and economic benefits. This investment will enable us to push on and commercialise the technology, and is a fantastic show of support for what we believe to be a world-changing innovation."
Adrian Black
CEO at Bio-Sep
Investor perspective
"London Business School is a breeding ground helping to bring students’ ideas to life, giving them access to world-leading experts and initiatives to help them embark on their entrepreneurial journey. Coupled with Enterprise 100, it gives startups like Bio-Sep the opportunity to grow and develop revolutionary ideas to truly change the world."
John Bates
Enterprise 100 Club member, London Business School Fellow, Enterprise 100 Club
Use of funds
- 01Grow the team
- 02Scale operations
