Solvay invests in DMC Biotechnologies to advance bio-based innovation
Through its venture capital fund, Solvay's investment complements its own sustainability ambition to more than double its sales of products based on renewable or recycled resources
Solvay Ventures, the venture capital fund of Solvay, has invested in DMC Biotechnologies, a U.S.-based biotechnology company. DMC, which stands for Dynamic Metabolic Control, delivers robust and predictably scalable biocatalysts through microbial fermentation. This results in cost-competitive bio-based chemicals produced for animal feed, human nutrition, sustainable cleaning and pharmaceutical applications.
DMC represents Solvay Venture's first portfolio company in biotechnology. Its core technology addresses a key challenge for biotech companies, considered to be the next wave of a biotechnology paradigm, as it decouples cell growth and production while optimizing metabolic pathways in each phase. This optimization results in unprecedented yields and predictability for scale-up.
“DMC has demonstrated exceptional speed by moving from targeted molecules to products ready for commercialization at the right scale. The versatility of the platform, translated into the large range of products, aligns perfectly with Solvay's aspiration to bring more bio-based solutions to market.”
Thomas Canova
Head of Solvay Ventures
Solvay’s flavor and fragrance offerings already leverage some biotechnology capabilities. One of the Group's flagship products, Rhovanil® Natural, is produced by bioconversion of ferulic acid, a natural organic compound found in rice bran. Rhovanil® Natural CW is the market reference for natural vanillin needs.
The $34-million Series B funding round also includes Cibus Enterprise, Capricorn Partners, Sofinnova Partners, Breakthrough Energy Ventures, SCG, Boulder Ventures and Michelin.
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Solvay is a science company whose technologies bring benefits to many aspects of daily life. With more than 23,000 employees in 64 countries, Solvay bonds people, ideas and elements to reinvent progress. The Group seeks to create sustainable shared value for all, notably through its Solvay One Planet roadmap crafted around three pillars: protecting the climate, preserving resources and fostering a better life. The Group’s innovative solutions contribute to safer, cleaner, and more sustainable products found in homes, food and consumer goods, planes, cars, batteries, smart devices, health care applications, water and air purification systems. Founded in 1863, Solvay today ranks among the world’s top three companies for the vast majority of its activities and delivered net sales of €9 billion in 2020. Solvay is listed on Euronext Brussels and Paris (SOLB). Learn more at www.solvay.com.
Solvay Ventures is the venture capital fund of Solvay with a mission to invest in innovative enterprises with breakthrough technologies in advanced materials and formulations. Drawing from an €80 million global evergreen fund, Solvay Ventures targets early stage investment opportunities (Seed through Series B) with a focus on startups addressing better use of resources, energy transition, human capital, well-being and digitalization. Beyond investments, the venture also seeks to align to the Group's innovation and sustainability ambitions.
DMC is a U.S.-biobased chemical company that makes products using microbial fermentation. Their proprietary technology simplifies biology and makes fermentation more predictable, robust, and efficient. DMC is on track to address two of the global challenges of our time: sustainably and affordably feeding a growing world population and reducing greenhouse gas emissions through efficient production of (bio)chemicals. For more information, visit www.dmcbio.com
