The Finnish industrial biotech company MetGen has raised EUR 2.7 million during a financing round lasting six months. Metgen develops industrial enzyme solutions that enable energy savings in the refining process of pulp and paper production, and contribute to cost savings in the conversion of non-food biomass into cellulosic sugars for the biofuel and renewable chemicals industry.
The latest company to invest in MetGen is the Swiss venture capital investor Emerald Technology Ventures. “We are very pleased to be on board and support the company on its growth and international expansion plan,” says Gina Domanig, Managing Partner at Emerald. “MetGen represents an exciting opportunity to serve the fast growing industrial biotech market.”
According to Philipp Hasler, Investment Director at Emerald, MetGen is seen as a unique opportunity to address one of the biggest markets in industrial biotech with product solutions that are complementary to the offerings of the globally leading enzyme companies.
Alex Michine, CEO and Founder of MetGen believes that Emerald’s deep domain expertise and global industrial network will be an important pillar in supporting Metgen’s growth. The financing round has also included Sofinnova Partners, Finnish Industry Investment, HST Partners, Finnvera and Cleantech Invest.