Jiangsu Sairuike raises hundreds of millions of yuan to scale bioplastic chemical
What's the deal? Jiangsu Sairuike New Material TechnologyDealroom has a profile for this one. Try Dealroom → has closed a Series A round worth several hundred million yuan. Puhua CapitalDealroom has a profile for this one. Try Dealroom →, Acorn CapitalDealroom has a profile for this one. Try Dealroom →, Jinshuihu FundDealroom has a profile for this one. Try Dealroom →, and Green Dynamic CapitalDealroom has a profile for this one. Try Dealroom → co-invested.
What's the endgame? The company will use the funds to build a 10,000-tonne flagship plant for 2,5-furandicarboxylic acid (FDCA) in Jiande, Zhejiang. It says this is the world's first FDCA plant based on a glucaric acid (GA) intermediate route.
Why now? The investment aims to move the plant from technology validation to large-scale commercial production.
The signal: FDCA is a bio-based building block used to make renewable plastics, and backing from investors including Green Dynamic Capital points to continued appetite for green chemistry at commercial scale.
Read more: sohu.com
Image credit: knowing3
