Bill Gates, Total invest in Renmatix

Cellulosic sugar technology firm Renmatix has raised $14 million in new funds from investors including Bill Gates and the oil firm Total. The firm will use the money to market licenses to its Plantrose process, which uses supercritical water hydrolysis to deconstruct cellulosic plant materials and unlock sugars for making biobased fuels and chemicals. Total also signed a license giving it the ability to make 1 million metric tons of cellulosic sugars annually. Total first invested in Renmatix in 2015. Earlier investors include BASF and the venture capital firm Kleiner Perkins Caufield & Byers.