Solugen locks in $214 million Energy Department loan to build a ‘bioforge' for sustainable chemicals production

Sustainable chemicals startup Solugen locked in a $214 million loan from the Department of Energy program that also backed Tesla in its early years.

Solugen previously raised more than $640 million in venture funding from firms including Baillie Gifford, GIC, Temasek, BlackRock, Founders Fund, Fifty Years and Refactor.has locked in a $214 million loan commitment from the U.S.

While expanding operations to the north, Solugen is also designing and developing additional enzymes also from renewable feedstock. They are currently focused on new sustainable chemicals from sugar that can be used to manufacture plastics and nylon without leaving behind anything harmful like heavy metals or PFAs, the CEO said.

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