ENGINZYME
11.2.2021 07:02:05 CET | Business Wire | Press release
EnginZyme, a company developing a technology platform for sustainable production of chemicals, today announced it has closed an extension to its Series A financing round, bringing the total raised to €11 million. The extension round was led by Industrifonden, Sweden’s largest deep tech venture capital firm, followed by SEB Greentech VC and existing shareholders.
“Current bio-manufacturing processes are too expensive and too difficult to scale to be economically feasible for most chemicals and products,” said Dr. Karim Engelmark Cassimjee, CEO of EnginZyme. “This funding round will allow us to demonstrate that the problem is solvable, and that our approach is a versatile and scalable solution.”
More than half of the global economy’s physical inputs could be produced biologically, according to a 2020 McKinsey report . The economic potential of applications based on innovative biological processes is immense -- those that are scientifically feasible today could have a yearly economic impact of up to $4 trillion over the next two decades, according to the same report.
EnginZyme’s technology platform leverages engineered, immobilized enzymes to create a best-in-class approach that combines the breadth and power of biology with the efficiencies of the chemical industry. It thereby overcomes the limitations of fermentation and promises increased productivity at lowered costs, hence increasing the sustainability of chemical production.
While other bio-manufacturing technologies often struggle to move out of the lab to deliver meaningful volumes, EnginZyme has produced catalysts at multi-kilogram scales and operated pilots capable of producing 50 tons per year of product. This year will see the company pilot production processes and advance partnerships across markets such as high-performance cosmetics, food applications, alternative sweeteners, and flavors and fragrances, testifying to the versatility and scalability of its technology.
“EnginZyme is demonstrating its ability to replace traditional, fossil fuel-based, energy-intensive, unsustainable chemical production with a green alternative that doesn’t compromise on efficiency,” said Patrik Sobocki, Investment Manager at Industrifonden. “The company represents the future of synthetic biology and the future of chemical production. EnginZyme has a blue ocean opportunity to redefine the chemical industry. We are pleased to add EnginZyme to our deep tech portfolio as it fits well with our strategy.”
“The climate crisis is the challenge of our lifetime. Building a sustainable future requires the rapid adoption of technologies like EnginZyme’s in hard to abate sectors such as chemicals manufacturing,” said Markus Hökfelt, head of SEB Greentech VC. “We are thrilled to make EnginZyme our first SEB Greentech VC investment.”
EnginZyme previously announced its Series A investment led by Sofinnova Partners, a leading European life sciences venture capital firm based in Paris, London, and Milan. "This milestone strengthens our early conviction in the potential of EnginZyme’s unique technology to contribute to a more sustainable future. Welcome to Industrifonden and SEB Greentech VC," said Michael Krel, Partner at Sofinnova Partners.
About Industrifonden
Industrifonden is a Nordic venture capital investor based in Stockholm. We invest in breakthrough technologies and science-based innovation – the industry of tomorrow. For more information, visit www.industrifonden.com
.
About SEB Greentech
SEB Greentech VC invests equity in start-ups with a major potential to reduce GHG emissions and keep our economy within the planetary boundaries. We want to help our portfolio companies grow with access to a broad industry and investor network from global leading clients and partners. SEB Greentech VC is part of SEB, a leading Nordic financial services group with a strong belief that entrepreneurial minds and innovative companies are key in creating a better world. SEB takes a long-term perspective and supports its customers in good times and bad. In Sweden and the Baltic countries, SEB offers financial advice and a wide range of financial services. In Denmark, Finland, Norway, Germany and the United Kingdom, the bank's operations have a strong focus on corporate and investment banking based on a full-service offering to corporate and institutional clients. The international nature of SEB's business is reflected in its presence in some 20 countries worldwide. At 31 December 2020, the Group's total assets amounted to SEK 3,040bn while its assets under management totalled SEK 2,106bn. The Group has around 15,500 employees. Read more about SEB at https://www.sebgroup.com
About EnginZyme
EnginZyme’s cell-free bio-manufacturing platform marries the efficiency of the chemical industry with the power and diversity of biology, establishing a foundation for the future chemical industry. The company is headquartered in Stockholm, Sweden. For more information, visit www.enginzyme.com
.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210210005827/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Philips and Imricor Launch Cardiac Interventional MR Lab Solution, Expanding Longstanding Collaboration27.8.2026 21:27:00 CEST | Press release
Royal Philips (NYSE: PHG, AEX: PHIA), a global leader in health technology, and Imricor Medical Systems (ASX: IMR), a pioneer and world-leading developer of MR-compatible products for interventional MR procedures, today announced a new Interventional MR (iMR) lab solution for Philips 1.5T MR. The first commercially available configuration* combines Philips’ 1.5T MRI platform and Imricor's portfolio of iMR systems and consumables, enabling an MR-guided workflow for cardiac intervention, without compromising on MR field strength. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260827693715/en/ Meeting the need for greater tissue insight during cardiac intervention Cardiac arrhythmias affect millions of people worldwide, and catheter ablation is an established and increasingly utilized treatment for many complex cardiac arrhythmias. Yet today, these procedures continue to rely primarily on X-ray fluoroscopy, which provides only
Xsolla Launches Game Biz Institute, an Editorial Platform Where Industry Practitioners Explain the Business of Games27.8.2026 17:32:00 CEST | Press release
New Platform Pairs Independent Researchers and Industry Veterans with Xsolla Experts to Unpack Direct-to-Player Commerce, Monetization, Payments, and Player Retention Xsolla, a global commerce company, today announced the launch of Game Biz Institute (GBI), an editorial platform where named industry practitioners and researchers examine the commercial layer of games: direct-to-player distribution, payments, monetization, user acquisition, and retention. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260827362663/en/ Graphic: Xsolla Game design has a curriculum. The business of games does not. Engines, pipelines, production, and narrative are taught at hundreds of universities, while the commercial machinery that determines whether good work becomes a durable company is still learned through expensive trial and error, usually after the decisions that mattered have already been made. GBI was built to close that gap by publishi
Star Wars Zero Company™ Now Available On PC, PlayStation 5 and XBOX Series Consoles27.8.2026 17:00:00 CEST | Press release
Bit Reactor’s Debut Title Combines Tactical Depth and Cinematic Elegance for a New Star Wars StoryWatch the Final Trailer to Witness What’s at Stake in the Galaxy Electronic Arts Inc. and Bit Reactor, in collaboration with Lucasfilm Games, announced today that Star Wars Zero Company™, a single-player turn-based tactics game set in the twilight of the Clone Wars™, is now available for PC via the EA app, Steam, and Epic Games Store, and PlayStation®5 and XBOX Series consoles. In Star Wars Zero Company, former Republic officer Hawks and Zero Company, an elite squad of unconventional professionals for hire, are recruited for an operation by Republic Intelligence. From ex-nobles to ex-cons, they now share one mission: Stop the Infinite Coil, a Separatist-aligned cult, and their leader Kundri Fathom before the deadly Shadow Plague consumes the galaxy. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260827012810/en/ https://www.yout
Rehlko Joins Wisconsin Data Center Coalition as Newest Energy Resilience Member, Reinforcing Its Role at the Center of AI and Digital Infrastructure Growth27.8.2026 15:15:00 CEST | Press release
Global Energy Resilience Leader Reinforces Its Role at the Center of AI and Digital Infrastructure Growth Through Mission-Critical Power Expertise Rehlko, a global industrial energy resilience platform providing custom-engineered, integrated power solutions for mission-critical infrastructure worldwide, today announced it has joined the Wisconsin Data Center Coalition (WIDCC) as the organization's newest energy resilience member. The membership reflects Rehlko's commitment to advancing Wisconsin's role as a leader in responsible AI infrastructure development, built on reliable and scalable power. Rapid growth in hyperscale and enterprise data center investment is reshaping markets across the world, and Rehlko is building the power infrastructure that makes it possible. Sitting at the intersection of the structural forces driving AI infrastructure expansion, grid reliability, and accelerating electrification, Rehlko brings more than a century of engineering depth and lifecycle capabilit
GenNx360 Capital Partners Closes Fourth Flagship Fund at $865 Million27.8.2026 14:30:00 CEST | Press release
Fund IV success is the result of two decades of proven performance backing lower middle market industrial services and business services companies GenNx360 Capital Partners (“GenNx360” or “the Firm”), a New York City-based private equity firm investing in U.S. lower middle market industrial services and business services companies, today announced the successful closing of GenNx360 Capital Partners IV, L.P. (“Fund IV” or “the Fund”), with $865 million in commitments, exceeding its target. Fund IV is the largest fund raised in GenNx360’s history. Fund IV was supported by a diverse group of existing and new investors including leading pensions, asset managers, insurance companies, foundations, and family offices, reflecting conviction in the firm’s disciplined investment approach, operational value creation model, and tenured, diverse team. Fund IV will continue GenNx360’s differentiated strategy of partnering with lower middle market founders and management teams to scale essential serv
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom