Green Biologics Ltd., a U.K. based industrial biotechnology and renewable chemicals company was awarded the Standout Financial Achievement of the Year Award on April 28, 2015 in Florence, Italy by Cleantech Group, whose mission is to accelerate sustainable innovation.
Green Biologics was named to the Global Cleantech 100 list in 2009, 2011 and 2014.
The Standout Fundraising Achievement of the Year Award is awarded annually to a company or investor active in clean technology in the Europe and Israel region whose fundraising achievement in the past 12 months stands out as for its audacity, its novelty, its impressive execution or the quality of its syndicate, or its pioneering or example-setting nature.
According to Richard Youngman, Managing Director Europe for Cleantech Group, Green Biologics won this award based on the impressiveness of raising over $100 million since December 2013, including $76 million in December 2014 in a creative combination of venture debt and equity. This included raising funds at the project level in Minnesota from the farmer owners of the local cooperative selling the Minnesota plant that will produce butanol and acetone.
“This is a significant achievement in today’s world, and clearly demonstrates that those shareholders (and farmers) closest to Green Biologics’ activities have strong belief in what the company is doing,” he said.
Green Biologics was proud to have earned recognition for their achievement. “This award recognizes the clear route to commercialization that Green Biologics is taking, from laboratory and demonstration facilities to the present repurposing of the Central Minnesota Renewables ethanol plant for butanol and acetone production in 2016,” said Sean Sutcliffe, Chief Executive of Green Biologics. “Alongside this technology development, the progress in collaborations with customers for renewable chemicals has underpinned the strong investment case that we were able to present to existing shareholders and new funding partners.”
The award was presented to Green Biologics at a gala dinner on April 28, 2015 in Florence, Italy at the Florence City Hall, the world famous Palazzio Vecchio. Mr. Sutcliffe from Green Biologics, Ltd. was on hand to accept the award.