Hog kong-headed advanced biofuels developer EcoCeres, Inc has announced that it has received US$108 million as investment from Hong Kong - UK-headed private equity investment manager Kerogen Capital Ltd to accelerate EcoCeres’s business growth as a key supplier of advanced biofuels to the global market.
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With around US$2 billion under management, Kerogen Capital has a global presence and a specialist focus on energy and energy transition.
According to a statement, the partnership with Kerogen underscores strong confidence in EcoCeres from an expert energy investor.
EcoCeres makes use of its proprietary technologies to convert waste-based biomass into a spectrum of renewable products and offers decarbonization solutions to the world in its journey toward carbon neutrality.
Investment proceeds will be used primarily for expanding production capacity for advanced biofuels and biochemicals, as well as continuing research and development in downstream value-added processes.
We are very excited to invest in EcoCeres, a rising market leader in renewable fuels and chemicals. These industries will be key to the drive for global decarbonization. EcoCeres has an excellent strategic position with unique innovative technology, significant revenue and plant capacity, and ambitious growth plans. We look forward to partnering with the EcoCeres team in their journey to becoming a global leader in renewable and circular solutions, said Jason Cheng, CEO and Managing Partner at Kerogen.
Strategic focus on advanced biofuels
EcoCeres has a strategic focus on the conversion of waste-based biomass into a wide spectrum of biofuels, biochemicals, and biomaterials.
The Company is one of the few players in the world currently utilizing its own proprietary technologies to produce renewable diesel (hydrotreated vegetable oil (HVO) at scale to help markets in the European Union fulfill its greenhouse gas (GHG) reduction targets mandated under Renewable Energy Directive II (RED II).
EcoCeres is also expecting to produce in the near term its first commercial cargo of sustainable aviation fuel (SAF), followed by the production of cellulosic ethanol from agricultural waste.
Achievement of these milestones will cement EcoCeres as a first mover in the industry, with the capability to decarbonize the full spectrum of transportation fuels across diesel, jet fuel, and gasoline.
EcoCeres has evolved as a result of Towngas’ foresight to expand the scope of its business with an emphasis on sustainability. Today we are delighted to welcome Kerogen, who shares the same vision and values as EcoCeres, to be our strategic partner. We look forward to a fruitful collaboration with Kerogen in our strive for renewable solutions much needed by the world to attain carbon neutrality, said Philip Siu, Executive Director and CEO of EcoCeres.