AAA Anellotech processes $9m from Suntory

Anellotech processes $9m from Suntory

Anellotech, a US-based developer of chemical production processing technology, has secured $9m of a $15m funding commitment from consumer beverage group Suntory Holdings.

The funding was secured after Anellotech fulfilled unspecified performance milestones, and it has now raised more than $25m from Suntory since the companies formed a partnership agreement in 2012.

Founded in 2008, Anellotech is developing a biochemical and fuel production process called Bio-TCat that uses non-food biomass sources such as wood and sawdust to create plastic materials or transportation fuels, rather than less sustainable fossil fuels.

Anellotech’s pilot processing plant is expected to soon begin production of prototype biochemical samples, and Suntory hopes Anellotech’s work will facilitate the production of a plastic container made entirely from biomass-based materials for its beverage business.

Earlier investors in Anellotech include fuel processing technology producer Axens, speciality chemicals and fuels provider Johnson Matthey, France-based research organisation IFP Energies Nouvelles and Toyota Tsusho, the trading arm of automotive manufacturer Toyota.

The company raised $12.7m in funding across various rounds between 2014 and May 2017 according to regulatory filings, but has not disclosed the details of which investors took part in which rounds.

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