Solvay invests in DMC
Through its own venture capital fund of Solvay Ventures, Solvay has made an unspecified investment in US-based DMC (Dynamic Metabolic Control) Biotechnologies. The $34-million Series B funding round also included Cibus Enterprise, Capricorn Partners, Sofinnova Partners, Breakthrough Energy Ventures, SCG, Boulder Ventures and Michelin.
DMC develops biocatalysts through microbial fermentation for applications in food, feed, cleaning and pharmaceuticals, claiming to have “a deep pipeline of predictable, scalable, cost-competitive products, addressing sustainability challenges across a wide range of industries”. Its first product, chemical intermediate with primary applications in home care and human nutrition, is now commercial.
This is Solvay’s first investment in the field but its flavour and fragrance offerings already leverage biotech capabilities. For example, its Rhovanil Natural vanillin flavour is produced by bioconversion of ferulic acid, a natural organic compound found in rice bran.