HydRegen closes $8 million first tranche of Series A
Genoa Ventures leads financing to expand industrial biocatalysis.
HydRegen announced the $8 million (£6 million) first close of its Series A on October 14. Genoa Ventures led, with Clean Growth Fund and First Imagine! Ventures participating alongside additional backers.
Capital will expand work with pharmaceutical and specialty chemical customers and support adoption in higher-volume applications. This is an initial close of the Series A.
The Oxford company produces enzyme-based catalysts designed to replace conventional hydrogenation chemistry within existing equipment. Its expansion focuses on making that platform usable across more industrial processes.
Use of funds
Expand customer adoption in chemical manufacturing
Scale enzyme-based catalyst platform into higher-volume applications