Anellotech Inc. (Pearl River, N.Y.; www.anellotech.com), a sustainable technology company focused on producing cost-competitive renewable chemicals from non-food biomass, today announced that the company has received an additional $3 million equity investment from an unnamed and confidential multinational strategic investor and corporate partner. As previously announced on November 18, 2015, Anellotech received the first $7 million tranche of this now total $10 million investment from this investor.
The capital will be used to fund the development of Anellotech’s Bio-TCat process to produce cost-competitive renewable aromatic chemicals from non-food biomass, including the installation of Anellotech’s new, fully-integrated development and testing facility (“TCat-8”), which broke ground earlier this year and will be operational in 2016.
Anellotech previously announced that its developmental R&D unit, TCat-8, which will be used extensively for this purpose, is now being installed at South Hampton Resources’ Silsbee, Texas facility.