Syensqo Ventures, the group’s venture capital fund, participated in the $2.1 million financing round for Bioeutectics, alongside Fen Ventures, Atento Capital and SOSV (IndieBio).
Founded in 2019, Bioeutectics provides natural and high-performance solvents that make industrial products and processes more sustainable. Bioeutectics' website reads, "Our products are able to replace ethanol, methanol, acetonitrile, ether, ethylene glycol, propylene glycol, chloroform, dimethylsulfoxide, turpentine, propanol, ethyl acetate, and amines in the below industries."
According to a release, by utilizing Natural Deep Eutectic Solvents (NADES), Bioeutetics is said to mimic the way plants elaborate their solvents, using 100% renewable sources therefore replacing petrochemical-based solvents with natural alternatives.
“We see a growing demand for efficient and environmentally friendly solvents, which can also be biodegradable, non-toxic and affordable. Bioeutetics’ cutting-edge technology is at the forefront of solvent innovation, combining high-performance, quality and sustainability that could bring real added value to Syensqo’s portfolio of products,” said Jean-Christophe Castaing, global R&I director, of New Technologies at Syensqo.
“We are excited to have Syensqo onboard to help us bring these early-stage innovations to the market. Syensqo’s expertise in solvents and formulation is key to our success,” said Tomas Silicaro, CEO of Bioeutectics.
“We are thrilled to partner with this enthusiastic team, which is working on the future of green solvents. Bioeutectics has developed not only specific products but also a platform to design these innovative solvents, increasing significantly the potential applications,'' said Coppelia Marincovic, partner at Syensqo Ventures.
