Bill Gates’ investment fund invests in Bloom Biorenewables

Bloom Biorenewables has concluded its seed investment round resulting in a total of €3.9 million raised from dilutive and non-dilutive sources. The round was led by Breakthrough Energy Ventures-Europe (BEV-E), a new €100 million investment fund launched by Bill Gates with the aim to boost clean-energy innovation in Europe. It links European Investment Bank funding guaranteed by the European Programme for Research and Innovation, Horizon 2020, with long-term risk capital in order to accelerate global decarbonisation and support clean energy innovations in reaching the market faster, more efficiently, and in more places in Europe. Other investors in the round include the Berlin-based Beyond Black Venture Capital fund and several Angel Investors that will provide strategic support for upcoming growth.

The EPFL startup is developing innovative biomass fractionation technologies. Its products are specifically designed to substitute unsustainable fossil-sourced carbon in materials and fuels, a crucial step in the fight against global CO2 emissions. The proceeds from the Seed Round will be used by the EPFL startup for the development and market validation of its first products, including marine biofuels, plastics and fragrances. In addition, Bloom will grow its team and establish an independent R&D facility with sufficient production capacity to unlock the last barrier towards commercialisation.

Remy Buser, CEO and Co-founder of Bloom says, “Plants will undoubtedly play a major role in replacing fossil resources. Our agriculture and forestry already produce large quantities of renewable carbon, but a substantial portion is discarded as waste and thereby rapidly released back into the atmosphere. Bloom knows how to store and utilize it more efficiently.”

Teresa Czerwinska, Vice-President at European Investment Bank, says “Achieving significant reductions in greenhouse gas emissions requires not only political will and smart investment but also business ideas that deliver solutions for the most pressing problems. We are proud to support a company with such an idea and with the potential to become a European innovation leader for biomass chemicals. The goal of the BEV-E Fund is to identify and finance cutting-edge technologies that will help keep our planet liveable, and we are happy to partner with them.”

(Press release)