Industrial Microbes announces seed round funding
iMicrobes leadership team: Dr. Elizabeth Clarke, CTO, Dr. Derek Greenfield, President, Dr. Noah Helman, CEO.
Industrial Microbes announces seed round funding to drive scale-up of sustainable biobased materials, funding led by First Bight Ventures, supported by Universal Materials Incubator Co. (UMI).
Alameda, CA, November 19, 2024 — Industrial Microbes (iMicrobes), a biomanufacturing company on a mission to accelerate the transition to sustainable materials, today announced the successful completion of the first close of its seed round funding, bringing the company’s total investment to over $10M. The funding was led by First Bight Ventures, with participation from Universal Materials Incubator Co. (UMI).
The seed funding marks a significant milestone for iMicrobes, enabling the company to engineer its microbes 3x faster and purify its first commercial samples. This critical investment supports the company's ongoing efforts to scale its proprietary bioprocesses, transforming renewable feedstocks like ethanol and methane into high-performance biobased chemicals.
Veronica Breckenridge, Founder of First Bight Ventures, commented on the investment, stating,
“We stand at a significant inflection point for biomanufacturing. iMicrobes is uniquely positioned to help chemical companies bring biobased materials to market, meeting the increasing demand for sustainable products. Their innovative approach to developing cost-competitive, net-zero materials is paving the way for a new era in sustainable chemistry.”
Yosuke Yamamoto, Partner at UMI, added, “At UMI, we believe that innovation thrives when industries collaborate across the value chain. iMicrobes exemplifies this approach by connecting the upstream potential of biotechnology with the downstream needs of chemical and materials industries. Their work in creating sustainable, biobased solutions that meet real-world market demands positions them as a valuable partner for companies seeking to transition away from fossil fuel-based materials.”
iMicrobes is scaling up its fermentation to produce more than 10 kg of product per run in a pilot bioreactor, and accelerate the commercialization of its bio-based acrylic acid production platform. Acrylic acid, a versatile chemical used in products ranging from paints to diapers, has traditionally been sourced from petrochemicals.
iMicrobes has successfully developed two distinct pathways for producing bio-based acrylic using methane and ethanol as feedstocks. Methane, a potent greenhouse gas, is sourced from industrial by-products and agricultural residues, transforming a harmful waste stream into a valuable resource. Ethanol, widely used as a biofuel, can now play a growing role in producing sustainable materials. Using ethanol to support domestic biomanufacturing can strengthen domestic supply chains for critical materials.
“Our team is excited to welcome our new investors, whose support will be pivotal as we bring innovative, sustainable products to market. This funding enables us to accelerate our transition to commercial scale, helping reduce global dependence on fossil fuels while offering cost-effective alternatives.”
iMicrobes is also proud to be the recipient of funding for the “Sustainable Carbon Fiber Made from Waste” project, an initiative aimed at transforming waste products like ethanol and carbon dioxide into biobased carbon fiber. This project will contribute to stronger US domestic supply chains and more sustainable manufacturing.
The company’s processes are designed around a set of principles that prioritize renewable carbon feedstocks, net-zero emissions, cost-effective production, and high-performance materials. The biobased solutions can integrate seamlessly into existing formulations, ensuring no loss in quality while reducing environmental impact.
About Industrial Microbes
Founded by a team of seasoned biotechnology experts, Industrial Microbes is at the forefront of the sustainable materials revolution. Utilizing advanced synthetic biology and precision fermentation technologies, iMicrobes converts renewable feedstocks such as methane and ethanol into drop-in chemicals, including acrylic acid, acrylonitrile, and carbon fiber with applications across multiple industries. The company holds 22 patents and is committed to driving the global transition to net-zero, cost-competitive materials.
Media contact:
Noah Helman, CEO, press@imicrobes.com