Solar Biotech, Inc. Receives Investment from Ingredion Inc. to Accelerate the Development of its Advanced SynBio Bioprocessing Technologies and Proprietary SynBio Products Pipeline
Ingredion has announced an investment in Solar Biotech to enhance its bioprocessing capabilities and support growth in the SynBio sector, particularly in the FoodTech industry. The investment will accelerate Solar Biotech's sustainable manufacturing technologies and is expected to create job opportunities in Norton, Virginia. The partnership aligns with both companies' sustainability goals and is viewed as a strategic move to commercialize proprietary SynBio products. Terms of the investment were not disclosed.
- Investment by Ingredion supports expansion of Solar Biotech's bioprocessing capabilities.
- Collaboration aims to accelerate commercialization of SynBio products.
- Investment expected to create job opportunities in Southwest Virginia.
- None.
Key Takeaway: investment will expand Solar Biotech's unique end-to-end bioprocessing capabilities and proprietary platform to manufacture high-value products used in multiple SynBio market segments, including the fast-growing FoodTech industry.
NORTON, Va., June 1, 2022 /PRNewswire/ -- Solar Biotech Incorporated announced today an investment by Ingredion Incorporated (NYSE: INGR) in Solar Biotech, a growing leader in advanced SynBio bioprocessing technologies and proprietary products. Terms of the investment were not disclosed. The investment, facilitated by New York investment bank, Young America Capital, will accelerate Solar Biotech's goal to provide sustainable, cell-based biomanufacturing technologies and products internationally across multiple SynBio market segments, including the fast-growing FoodTech industry. This infusion of capital will facilitate Solar Biotech as they proceed in their expansion at their facility in Norton, Virginia, which in turn will create more employment opportunities and contribute to the economic growth of Southwest Virginia.
"This investment by Ingredion represents a validation of Solar Biotech's growing stature and product development reputation in the SynBio Industry. Headquartered in Southwest Virginia, Solar Biotech has developed a world-class advanced SynBio bioprocessing technological platform with a SynBio proprietary products line. We see in Ingredion an ideal strategic partner, completely aligned with our technology, sustainability, and social development targets, and a company with whom we will synergize well together to accelerate further our technology development and fast track the commercialization of our own SynBio proprietary products and those of our partners and customers.", commented Alex Berlin, Ph.D., Founder, CEO & CTO of Solar Biotech, Inc. based in Norton, VA.
"We have been impressed with the caliber of Solar Biotech's team, as well as their vision, technology, and hardworking culture. Solar Biotech will make a significant difference in the SynBio industry, and we look forward to a fruitful collaboration with their team.", added Dennis Sawchuk, Ph.D., Vice President, Research of Ingredion, whose headquarters are in Westchester, Illinois.
About Solar Biotech
Solar Biotech, Inc. is a leading SynBio products and advanced bioprocessing technology development company with a mission to transform the way consumer products are manufactured via advanced bioprocessing technologies, including precision fermentation. The research and development and biomanufacturing facility in Norton has already facilitated the successful introduction of several major products to the SynBio food and beverage market segments. Recognizing rising consumer trends for sustainable, traceable, and healthier consumer goods, Solar Biotech is committed to environmentally sound operations in order to deliver the highest quality SynBio products available worldwide. Solar Biotech is working on the next generation of sustainable bioprocessing technologies, that will further revolutionize the SynBio industry. To learn more about Solar Biotech, visit www.solarbiotech.com.
Contact
Investors: Peter Formanek, peter@yacapital.com, 914-672-3779, Gary Hearl, ghearl@yacapital.com, 276-964-1612
Business & Technical: Alex Berlin, alex@solarbiotech.com, 530-304-2144
Media: Lisa Wade, lisa@solarbiotech.com, 276-698-0892
About Ingredion
Ingredion, Inc., headquartered in the suburbs of Chicago, is a leading global ingredient solutions provider serving customers in more than 120 countries. With 2021 annual net sales of nearly
Contact
Media: Becca Hary, becca.hary@ingredion.com, 708-551-2602
About Young America Capital
Young America Capital, LLC is a FINRA/SEC-licensed broker-dealer based in New York serving the investment banking needs of early-stage and middle-market companies. Through its team of experienced investment banking advisors and funds marketing executives, Young America Capital provides customized services to raise debt and equity capital, engage in buy and sell-side mergers & acquisitions, and secure institutional capital commitments for established or new alternative fund managers. For more information about Young America, visit yacapital.com.
Contact
Peter Formanek, peter@yacapital.com, 914-672-3779, Gary Hearl, ghearl@yacapital.com, 276-964-1612
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SOURCE Solar Biotech, Inc.
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