Lead investment from Yokogawa Electric Corporation brings Bloom Biorenewables seed funding round to a total of 2.9M€. The investment will be used to complete biomass fractionation pilot project and secure pre-sales agreements with players from textile, packaging and fragrances industries across Europe. Bloom and Yokogawa, a worldwide leader in automation of industrial production processes, also signed a cooperation agreement on the commercialization of Bloom’s breakthrough technology.
Bloom’s patented mild lignin extraction method uses stabilizing molecules that prevent lignin (a major fraction in plants) from condensing during extraction. The company will use its latest investment to prove its technology on pilot project, which was kicked off in January 2020 in HEIA Fribourg facilities (Switzerland) with the support of Innosuisse.
With a sustainable and competitive solution, Bloom aims to make biomass a true alternative to petroleum with tremendous potential savings of CO2 emissions.
Bloom has also an impressive track record of winning awards and receiving non-dilutive instruments in 2020, such as the prestigious W.A. de Vigier Award 2020, third stage of Venture Kick and Climate-KIC accelerators, Gebert Ru?f Foundation Innobooster, EPFL Tech4Impact or Swiss Climate Foundation. Bloom is also part of the 5M€ European Union’s IDEALFUEL project developing sustainable marine fuels together with its partners including TU Eindhoven and Winterthur Gas & Diesel.
“These prizes reward the hard work from our dedicated team over the past two years and further solidify our position as a leader of the transition towards a green economy,” said Bloom Co- Founder and CEO Dr. Remy Buser.
About Yokogawa Electric CorporationFounded in 1915, Yokogawa engages in broad-ranging activities in the areas of measurement, control, and information. The industrial automation business provides vital products, services, and solutions to a diverse range of process industries including oil, chemicals, natural gas, power, iron and steel, and pulp and paper. With the life innovation business, the company aims to radically improve productivity across the pharmaceutical and food industry value chains. The test & measurement, aviation, and other businesses continue to provide essential instruments and equipment with industry-leading precision and reliability. Yokogawa co-innovates with its customers through a global network of 114 companies spanning 62 countries, generating US$3.7 billion in sales in FY2019.
About Bloom BiorenewablesBloom was incorporated as a spin-off from EPFL in January 2019 by Dr. Remy Buser, Dr. Florent He?roguel and Prof. Jeremy S. Luterbacher. The company transfers state of the art technologies developed in Swiss Universities to make biomass a true alternative to petroleum. Bloom, full member of the Bio-Based Industry Consortium, is focusing on key markets such as fragrances/food-packaging on the short term and textiles/fuels in a later stage, contributing tremendous environmental benefits.
Contact informationDr. Remy Buser
CEO & co-founder
Phone: +41 78 878 04 86
Source: Bloom Biorenewables, press release, 2020-08-20.