Manchester-based Holiferm raises €21.4M in series B round funding from Rhapsody Venture Partners and Clean Growth Fund. The most recent capital infusion will allow Holiferm to expand its manufacturing facility. Presently, Holiferm’s Wallasey plant can produce 1.1 KTA.
With this additional investment, the factory will install new fermenters, increasing its capacity up to 3.5 KTA by the end of 2024 and subsequently expanding up to 15 KTA. Additionally, the work at the company’s Manchester research and development site will advance considerably as a result of the funding.
Through pilot testing, it will help the company progress its research of other biosurfactants and their manufacturing processes, with a commercial launch slated for 2024.
Ben Dolman, CEO of Holiferm, says, “This latest funding round highlights the scale of the opportunity with Holiferm’s technology, making the manufacture of chemicals cleaner and greener through the elimination of petrochemicals, which is vital for not just the chemical industry, but the World as a whole. Both Rhapsody Venture Partners and Clean Growth Fund have proven exceptionally collaborative and supportive partners, and we are delighted that they are continuing with us on this journey and look forward to working together to transform the chemical industry,”.
The goal of Holiferm Limited is to provide sustainable processes for the synthesis of biosurfactants. Special chemicals known as biosurfactants are produced by bacteria, fungi, and yeast, among other living things. Because of their special characteristics, these molecules can lower the surface tension of liquids like water.