Environment & Energy Report

Biotech Startup Raises $133 Million to Make Plastic Substitute

May 5, 2020, 4:00 PM

Biotechnology firm RWDC Industries Ltd. has raised $133 million to expand production of a biodegradable alternative to single-use plastics, which have been making a comeback because of the coronavirus.

The Series B round will fund a plant in Georgia to make polyhydroxyalkanoate, or PHA, a biopolymer produced by feeding vegetable oil to microbes in a fermentation process, the company said. The factory will produce pellets of the material that customers can then turn into everything from disposable cups to medical supplies.

“The coronavirus pandemic presents an unprecedented crisis, but we also recognize that, for many years, we’ve been headed toward...

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