Trillium Renewable Chemicals (www.trilliumchemicals.com) announced today it has raised a US$ 10.6 million Series A financing round. The first closing totalled US$ 5.5 million and was led by Hyosung Advanced Materials Corporation. Current investor Capricorn Partners also participated. HELM AG has agreed to join the Series A round to bring the total to US$ 10.6 million. This funding builds on the company’s non-dilutive award of US$ 2.5 million from the US Department of Energy. Following a successful pilot program, the funding advances Trillium to the next phase of commercialization – the construction and operation of a market demonstration unit.

Trillium’s innovative Bio-ACNTM process sustainably converts plant-based feedstocks into valuable chemicals like acrylonitrile and acetonitrile. Acrylonitrile is currently manufactured from oil and gas derivatives to make a diverse range of consumer and industrial goods including carbon fiber, plastic, textiles, flocculant, synthetic rubber, and other valuable materials. These materials are used in finished products such as apparel, auto parts, aerospace parts, medical gloves, toys, consumer electronics, personal care products, sporting goods, and water treatment chemicals.

For further reading, please go to Capricorn’s website.