Elevance completes new round of equity funding
Elevance Renewable Sciences, Inc. announced that it has completed an equity funding round led by its largest investors. The company uses a collaborative business model.
“This new investment provides Elevance with a substantial infusion of capital, enabling the company to continue its growth by further developing sales channels for our existing commercial products, as well as advancing new applications for our unique chemical intermediates and technologies,” said Karl Schoene, CEO and President. “We are collaborating with a number of strategic partners, who are actively commercializing products leveraging our proprietary materials, while continuing to expand our portfolio with early-stage pipeline opportunities.”
Elevance with headquarters in Woodridge, IL, USA, develops high-performing specialty chemicals from renewable feedstocks using a proprietary Nobel Prize-winning olefin metathesis technology. These chemicals are used in a wide range of applications, including detergents, coatings, personal care, oil field, agricultural chemicals and engineered polymers.