Cambridge -- Thesis Chemistry (THESIS) announces an initial close to a Tranche 1 equity financing event. Smet Construction Services of De Pere, Wisconsin was the lead investor.
Approximately 95% of all chemicals manufactured today are derived from petroleum. Since 2007, THESIS has invested in the development of cutting-edge, differentiating technologies that allow for the unprecedented transformation of lignocellulosic biomass into green chemicals that are identical to petroleum-based substances in all respects with the exception of a renewable, sustainable origin. Experts predict the green chemical industry is poised to witness vibrant growth under a bio-based economy as the world seeks to lessen its dependence on crude oil.
“Achieving a timely close on this financing is a significant milestone for THESIS”, said Christopher Forslund, Chief Executive Officer. “This initial close will allow Thesis to embark on necessary preconstruction engineering studies in advance of a Tranche 2 equity raise and accelerate development of its green technology platform. Due to a very strong market reception, Tranche 1 will remain open as other investors finish their due diligence activities. We expect that Tranche 1 ultimately will be fully subscribed.”
Thesis Chemistry is a leader in developing innovative, green technologies for cost effective and environmentally responsible chemical manufacturing from sustainable forest and agricultural biomass. THESIS is currently in the process of commercializing its technology platform with the intent of becoming a world-renowned, green chemical company. This effort is expected to create numerous manufacturing and employment opportunities in communities harbouring a rich supply of biomass, while simultaneously lessening the world’s reliance on crude oil for chemical production.
For further information contact Mary Tso at (519) 620-1289 or [email protected]