Sofinnova et al. invest $42m in Green Biologics

Existing backers Capricorn Venture Partners, Oxford Capital Partners (OCP), Morningside Technology Partners and Convergince Holdings took part in the round.

Green Biologics has also secured $34m in debt financing from Tennenbaum Capital Partners, as well as an equity and debt investment rolled over by Green Biologics' US affiliate Central MN Renewables.

Previous funding
Green Biologics most recently secured $25m (£15.4m) in its series-B funding round in December 2013. Sofinnova Partners led the round alongside Swire Pacific. Capricorn, OCP, Morningside and Convergince also invested.

Prior to that, in July 2013 and May 2012, the company received a further £2m and £3.2m, respectively, from Capricorn, OCP and Morningside.

In February 2009, the company received £1m from OCP, Carbon Trust Investments and Morningside. This was followed in May 2010 with OCP, Capricorn, Carbon Trust and Morningside committing £4.9m to Green Biologics.

In November 2007, OCP led a £1.6m series-A round for the company, with participation from angel investors and Carbon Trust. Prior to this round, Green Biologics had completed a couple of seed funding rounds with a combined value of around £370,000, according to its website.

Company
Founded in 2003, Green Biologics is headquartered in Abingdon with an additional office in Ashland, Virginia, and a laboratory located in Columbus, Ohio.

The company has developed its Clostridium fermentation technology for the production of renewable C4 chemicals. Its fermentation platform converts sustainable feedstocks into green chemicals such as n-butanol and acetone.

People
Sean Sutcliffe is the CEO of Green Biologics. Denis Lucquin is a managing partner at Sofinnova.

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