Switzerland-based sustainable materials startup Bloom Biorenewables announced that it has raised CHF 13 million (USD$15 million) in a series A funding round, with proceeds aimed at advancing the development of the company’s technology to convert plant material into chemicals, industrial inputs and fuel.

Established in 2019, the Bloom Biorenewables transforms natural materials found in biomass to create an alternative to petroluem-based products. The company’s technology maximizes the usage of plant material, using aldehyde, an organic compound, to separate cellulose from plant biomass in a process known as aldehyde-assisted fractionation (AAF). The cellulose and related components, usually considered waste products, can then be processed into feedstock for aromatic chemicals. The materials can also be used as additives, fillers, and reagents for bio-based high-performance materials and composites for the plastics industry, and to make low-sulfur fuel for ships, the company said. Applications for the biomass-based materials span industries including cosmetics and homecare, bioplastics, nutraceuticals, food additives, biofuels, and textiles.

Remy Buser and Florent Héroguel, co-CEOs of Bloom Biorenewables, said:

“We are incredibly grateful for the support from our investors and excited about the opportunities this funding brings. With this investment, we are well-positioned to advance our technology and bring our sustainable solutions to market. Our AAF technology represents a significant leap forward in biomass upgrading, and we are eager to demonstrate its potential to transform the industry.”

The financing round was led by Anaïs Ventures and Valquest Partners, with participation from other investors, including Breakthrough Energy Ventures, Lombard Odier Investment Managers, Capital Risque Fribourg, Btomorrow Ventures, Amcor Ventures, Rosebrook and The King Baudouin Foundation, on behalf of R&Co4Generations, the Rothschild & Co philanthropic fund.

Julien Firmenich, CEO of Anaïs Ventures, said:

“We have been impressed by the potential of Bloom’s chemistry. We are delighted to support the team in their ambitious endeavor to develop and commercialize breakthrough sustainable products.”