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Biobased Chemicals

Biosynthetic Technologies raises $9.5 million for plant-based lubricants

by Melody M. Bomgardner
May 18, 2019 | APPEARED IN VOLUME 97, ISSUE 20

 

Biosynthetic Technologies has raised $9.5 million in a first round of funding to commercialize its Estolides line of biobased synthetic oils for use in lubricants, chemicals, and cosmetics. Early-stage venture investor HG Ventures led the round. Biosynthetic Technologies is providing samples of its products to clients from a pilot facility. The Indianapolis-based company says the oils, which are made from plant fatty acids, are higher performing than petroleum versions, biodegradable, and nontoxic.

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