In the UK, World Bio Market Insight reported that Pegasus Materials announced the launch of its first two bio-based materials and expanded its Seed funding round.
The new investment from venture studio Ferment and existing investors LIOF and Fibrant BV will help the company move from pilot projects to large-scale production.
Pegasus focuses on developing materials that use biology’s design flexibility. The company uses bio-based chemical building blocks to create materials that meet demanding performance needs. These materials are made from renewable sources, reducing environmental impact and greenhouse gas emissions, according to the report.
“By combining new bio-based chemistries with advanced material science, we can meet tough customer demands and reduce our environmental footprint,” said CEO Richard Pieters.
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