Solugen gets conditional commitment for USD 214m DOE loan guarantee

Image by Solugen Inc.

Solugen Inc has received a conditional commitment from the US Department of Energy (DOE) Loan Programs Office (LPO) for a USD-213.6-million (EUR 199.9m) loan guarantee that will support the construction of a bio-based chemical products facility in Southwest Minnesota.

The new 500,000-sq-ft biomanufacturing plant, called Bioforge Marshall, will utilise dextrose to expand production of Solugen’s organic acids and future products. It will employ the company’s Bioforge technology platform which transforms biomass into high-demand chemicals.

The bio-based chemical products made at the facility will be used in wastewater treatment, industrial wastewater, construction, agriculture, and the energy sector. The plant should be up and running in the autumn of 2025.

"Scaling our Bioforge platform is not only a technological advancement, but a strategic move to fortify the domestic supply chain for critical chemicals," commented Sean Hunt, CTO of Solugen.

(USD 1.0 = EUR 0.936)

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