Solugen
Solugen is an Industrial Biomanufacturing company founded in 2016 and based in Houston, USA. It has raised $643M in total funding, most recently a Series D in 2022 at a $1.8B valuation.
Founded in 2016 in Houston by CEO Gaurab Chakrabarti and CTO Sean Hunt, Solugen produces chemicals from plant-derived feedstocks using a hybrid 'chemienzymatic' process that combines engineered enzymes with metal catalysts, run in modular plants it calls Bioforges. The company has raised on the order of $640M-$650M from investors including Baillie Gifford, GIC, Temasek, BlackRock, and Founders Fund, and was valued in the billions in its later rounds. In June 2024 it secured a conditional commitment for a $213.6M U.S. Department of Energy loan guarantee to help build its Bioforge Marshall facility in southwest Minnesota, expanding capacity beyond its original Houston site.
Solugen is among the best-capitalized US bio-based chemical makers, and its DOE-backed Minnesota build is a test of whether modular, enzyme-driven plants can compete with petrochemical commodity production.
solugen.com ↗·Industrial Biomanufacturing·USA·private 
