Rivertop Renewables, a Missoula, Montana-based producer of novel chemicals derived from natural plant sugars, raised $26m in funding.
Backers included Cargill, First Green Partners and existing investors.
The company intends to use the funds to scale the platform technology and start commercial production of its chemicals (of salts of glucaric acid) targeted at consumer product and industrial markets.
Led by Mike Knauf, CEO, Rivertop is a producer of novel chemicals derived from renewable feedstocks. It will complete construction and begin operations at a semi-works facility at its headquarters in Missoula and plans to hire more than 20 employees in the next 12 months to support commercial development.
The company’s initial focus will be on commercializing opportunities in the dishwasher detergent and corrosion inhibitor markets. The company will explore additional opportunities from among several large industries including home and personal care products, oil and gas, building and infrastructure, agriculture and food. Access to applications in these markets is enabled by its technology, which can utilize a range of sugars and sugar alcohols to produce the corresponding sugar acids.
FinSMEs
09/04/2014