Asia Green Fund Co-invests in CellUranics

CellUranics has completed tens of millions RMB of angel financing, which was jointly invested by Sequoia China Seed Fund and Asia Green Fund (AGF). The fund will be mainly used for team expansion, follow-up R&D, and international patent applications.

Founded in 2020, the products of CellUranics can help the plastics industry achieve carbon neutrality. The founding and consultant team have professional backgrounds in science and technology, and deep industry experience. So far, its main products are glucaric acid, FDCA and PEF made from glucose.

The long-term goal of CellUranics is to build an industrial chain: “biomass→ glucose→FDCA→polymer materials”. Neng Guo, Founder of CellUranics, once worked in the USA branch of BP’s downstream business and accumulated rich experience in the chemical industry that spans across R&D and business. He said, “My team has rich experience in the industry. With this experience, we can achieve a seamless connection from test to industrial production. We look forward to contributing to the realization of China’s ‘3060’ dual carbon goal.”

Kuan Huang, Executive Director of AGF, said that: “CellUranics has an international team that has rich experience in R&D and large-scale plant engineering in the field of materials. Its unique high-conversion technology together with the team’s skills and experience is expected to quickly reduce the cost of FDCA and PEF as well as other downstream products to a level that can compete directly with traditional petroleum-based products.”

 

Susan White

Susan White writes related to the Business news Category. She manages to cover anything. Susan is our freelance contributor. She is responsible for covering reporting in finance and business categories. Susan has experience of 5 years as reporter to Business insights.

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