Undertaking a list of who’s who in the green chemistry start-up field is a little bit difficult to do as for one thing, promoting their business takes money, and they would rather invest their money in developing their technologies first before spreading out their name. Of course, they still have to get out and get money from the investment world so that’s when we (the media) hear snippets of information of who are entering this growing sector.
Here, for example, is a new company based in Menlo Park, California, called Rennovia, (thanks to my informant from the green underworld *lol*). This early stage green chemical development company recently raised $6 million in startup funding from 5AM Ventures and Versant Ventures, as noted in their Securities and Exchange Commission (SEC) filings.
The company did not disclosed what renewable-based chemicals it will make but according to earth2tech.com, Rennovia will reveal more details in a website that they will launch in the next week or so.
According to Rennovia’s co-founder Tom Boussie, in a Reuters interview, the company will focus on making chemicals, not fuels as “margins are higher, volumes are lower and the capital barrier for the same return on investment is lower.”
I’m sure we will hear more from this company soon enough!
By the way, I listed down some of the green chemistry start-up companies that I’ve encountered so far (in no particular order). I am not sure if I should include pure-play next generation biofuel developer but maybe I should put them in another category. Let me know what you think and if there are others that I’ve missed: