Circa successfully completes 56 M€ IPO that will be used to build its green solvent biorefinery

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Type of post: NEWS IN BRIEF.

Biochemicals company Circa Group AS has successfully completed a private placement of approximately 56 M€ and the company shares has started trading on Euronext Growth Oslo. The proceeds from the private placement will be used to build its 1 kton ReSolute plant in France and to further develop its portfolio of chemical derivatives. The ReSolute plant has received a 12 M€ grant from the BBI JU.
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Figure 1. Circa successfully completes 56 M€ IPO that will be used to build its green solvent biorefinery

This IPO initiates phase 3 of its development (the manufacture and commercialisation of levoglucosenone for industry) and is a positive signpost for the biomaterials industry as a whole. The private placement attracted strong interest from high-quality and global institutional investors and was more than 15 times oversubscribed (excluding pre-allocated shares).

Circa is a leader in the production of sustainable biochemicals. The company has a unique and patented technology called Furacell™ for making the platform biomolecule Levoglucosenone (LGO) which is the base for a range of chemicals, including the green solvent Cyrene™.

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