In Ohio, Locus Fermentation Solutions has closed an oversubscribed, $20-million investment in a convertible note round at an equity valuation of $100 million. The capital will be used to expand the company’s domestic biomanufacturing capacity, accelerate commercial activities and product development across four strategic sectors: oil & gas, mining, agriculture, and industrial/consumer profit goods formulations.
The funding was led by Hudson Bay Capital, with the opportunity to up-size the round.
This latest round brings total funding this year to over $40 million in growth capital and includes participation from company leadership.
Locus FS is the only U.S. producer of glycolipid biosurfactants with approval for commercial-scale volumes under the Toxic Substances Control Act. Locus FS’ non-GMO, palm-free biobased ingredients deliver powerful surface activity and improved performance, with dramatically lower toxicity and greater biodegradability than conventional surfactants, making them ideal for replacing petrochemical-based formulations across multiple industries.