Swiss firm Bloom Biorenewables has received a major investment to complete its biomass fractionation pilot project, which will produce alternative fuel.
Yokogawa Electric Corporation’s investment brings Bloom’s seed funding round to a total of €2.9 million.
Bloom and Yokogawa, a global automation and industrial production processes firm, also signed a cooperation agreement on the commercialisation of Bloom’s new technology.
Bloom’s patented mild lignin extraction method uses stabilising molecules that prevent lignin from condensing during extraction.
Bloom will use its latest investment to prove its technology via a pilot project launched in January in HEIA Fribourg Facilities, in Switzerland, with the support of Innosuisse. With a sustainable and competitive solution, Bloom aims to make biomass a ‘true alternative to petroleum’ with huge potential carbon dioxide emissions savings.
The company has won several awards and accolades for its work, and is part of the €5 million IDEALFUEL project, developing sustainable marine fuels together with its partners, including TU Eindhoven and Winterthur Gas & Diesel.
Bloom’s co-founder and CEO Dr Remy Buser said: “These prizes reward the hard work from our dedicated team over the past two years and further solidify our position as a leader of the transition towards a green economy.”
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