Solugen locks in $214 million Energy Department loan to build a 'bioforge' for sustainable chemicals production
Publishing timestamp: 2024-06-13 08:11:34
Summary
Solugen, a sustainable chemicals startup, secured a $214 million loan from the Department of Energy program that previously backed Tesla. The company plans to use the financing to build a new plant in Minnesota, where they will produce sustainable chemicals from corn sugar. This loan will help Solugen expand its operations and create more jobs while focusing on industrial decarbonization.
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