RWDC to increase its PHA production capacity with a new facility in Georgia

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Type of post: NEWS IN BRIEF.

RWDC Industries Limited (RWDC), a Singapore-based biotech start-up focused on biopolymer production, have announced the closing of a 133 M$ two-stage Series B funding round. RWDC will use the funding to significantly increase its production capacity and meet growing demand for polyhydroxyalkanoates (PHAs).
Press release: “RWDC Industries Raise US $133 Million In Series B Funding Round”, 5/5/2020.

Figure 1. Solon (PHA brand of RWDC) is certified by TÜV AUSTRIA to be fully biodegradable in soil, water and marine conditions (taken from the company website)

Co-founded by CEO Dr. Daniel Carraway and Executive Chairman Roland Wee, RWDC develops innovative and cost-effective biopolymer material solutions based on PHAs. PHAs are naturally generated by microbial fermentation of plant-based oils or sugars. Primarily produced today from used cooking oil, Solon (PHA brand of RWDC) is certified by TÜV AUSTRIA to be fully biodegradable in soil, water and marine conditions, leaving no toxic residue.

RWDC will use the funding expand the company’s production capacity with a new facility in Athens (Georgia). Reflecting its own mission of creating a sustainable, earth-friendly solution to plastics pollution, RWDC is repurposing an idled factory originally constructed in the late 1960s to use as its new production facility in Athens, which will bring 200 new jobs to the community. RWDC will also use the new funds to conduct research and development efforts.

The new investment was co-led by Vickers Venture Partners (a global venture capital firm), Flint Hills Resources (a leading energy and resources company), CPV/CAP Pensionskasse Coop (the pension fund of Switzerland’s largest retail company) and International SA (a fund linked to Interogo Holding AG). Existing investors Eversource Retirement Plan Master Trust (the pension fund of Eversource Energy, a Fortune 500 company) and WI Harper Group (a pioneer of US-Asia cross-border VC investing) also participated in the round.

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