Verdezyne Raises $10.6M to Advance Sustainable Chemicals Technology

5/11/12Follow @bvbigelow

Verdezyne, the Carlsbad, CA-based company developing industrial biotechnology processes for making adipic acid and other sustainable chemicals and fuels, has raised more than $10.6 million, according to a recent regulatory filing.

A spokesman for the company confirmed the financing, but would not comment beyond the filing, which shows the financing consisted of debt and rights to acquire securities.

Last year at this time, Verdezyne raised an undisclosed amount of funding from BP Alternative Energy Ventures, DSM Venturing B.V., OVP Venture Partners, and Monitor Ventures. Previous investors include Southern California’s Tech Coast Angels, the Life Science Angels, and other individual investors.

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call (619) 669-8788 Follow @bvbigelow

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