Shiqi Biochemical completes Series A+ for industrial gas fermentation
The Nanjing company plans to expand pilot production and commercial deployment.
Shiqi Biochemical announced Series A+ equity financing on February 28. The amount was not disclosed.
The financing included Shanghai Xinju Ceyuan Phase I Venture Investment Fund, Tianjin Tianchuang Yongtai Haihe Zhixin Venture Investment Fund, Nanjing Quwei Enterprise Management Partnership and Tianjin Tianchuang Dingxin Venture Investment Management Partnership.
Shiqi develops fermentation processes that use engineered microorganisms to convert industrial gases into fuels, chemical ingredients and feed proteins. The funds will support technology development, pilot-line expansion and market growth.
Use of funds
Develop gas fermentation technology
Expand pilot production and national markets