Issue Date: January 3, 2011
Elevance And LS9 Raise Venture Funds
Elevance Renewable Sciences has raised $100 million in a third round of venture funding to help it build biorefineries in Asia and the Americas. In addition to its current investors, the new round attracted Total Energy Ventures, an arm of France’s Total. Elevance is focused on creating personal care, detergent, fuel, and lubricant ingredients from natural oils using olefin metathesis. In June, the firm announced that it would build a commercial-scale facility in Indonesia. Separately, renewable fuels and chemicals firm LS9 has raised $30 million in a fourth round of venture funding. The company says it will use the money to commercialize its petroleum replacement.
- Chemical & Engineering News
- ISSN 0009-2347
- Copyright © American Chemical Society