Terragia Secures $6M to Develop Cost-Competitive, Low-Carbon Biofuel Technology
March 28 2024 - 12:00PM
Business Wire
The startup expanded its leadership team with
climate tech veteran Kristin Brief joining as CEO, Lee Lynd
transitions to CTO.
Terragia Biofuel, a technology startup aiming to drive the next
generation of biofuels, today announced it has raised a $6 million
seed round led by Engine Ventures and Energy Impact Partners (EIP).
The company will use the capital to commercialize its novel
biology-based approach to converting cellulosic biomass into
ethanol and other products, expand its employee headcount and
initiate partnerships with major biofuel producers.
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Terragia uses engineered thermophilic bacteria to break down
cellulosic biomass and convert it into ethanol and other chemical
products. The company’s technology avoids key features responsible
for the high cost of conventional cellulosic biofuel production by
one-step “consolidated” bioprocessing without added enzymes, and
leveraging mechanical disruption during fermentation (i.e.,
“cotreatment”) in lieu of thermochemical pretreatment.
Director of the National Renewable Energy Laboratory Martin
Keller comments, “Cellulosic biofuels are a route to low-carbon
fuels for aviation and other difficult-to-electrify transport modes
as well as CO2 removal from the atmosphere, both of which are
critical for climate stabilization. One-step biological conversion
of cellulosic biomass without added enzymes or thermochemical
pretreatment has clear cost reduction potential relative to other
process concepts.” Adds Terragia CTO and Co-Founder Lee Lynd, a
Distinguished Professor at Dartmouth’s Thayer School of Engineering
and Director of the Advanced Second Generation Biofuel Lab at the
University of Campinas, Brazil, "Conversion of ethanol to fuels for
planes, ships, and trucks is a leading option for approximately
half of future global transportation energy demand, for which
electrification is likely impractical, corresponding to a trillion
dollar market. With full penetration of this market, Terragia's
technology is projected to displace 3 gigatons of CO2 emissions
annually and enable capture of a yet larger amount of CO2.”
In partnership with Dartmouth College and the University of
Campinas, the ongoing development of Terragia’s technology is
supported by funding from the U.S. Department of Energy Center for
Bioenergy Innovation and the São Paulo Research Foundation, by
grants from the U.S. Department of Agriculture and National Science
Foundation, as well as private capital.
“Terragia has an exciting opportunity to succeed where others in
the cellulosic biofuel industry have not. The company’s technology
provides a radically different approach that uses biology to reduce
the high costs and scale of conventional cellulosic biofuel
production,” said Katie Rae, CEO and Managing Partner of Engine
Ventures. “With an experienced management team, deep industry
experience and a joint development agreement with a major U.S.
biofuel producer already underway, Terragia’s go-to-market approach
has the potential not only to meet future global transport demand
but to create low carbon biofuel products at a price point
competitive with fossil fuels.”
“We are proud to support Terragia on their path to
revolutionizing cellulosic ethanol and sustainable aviation fuel
(SAF) production,” said Ashwin Shashindranath, Partner at Energy
Impact Partners. “Low-carbon fuels are a cornerstone of the energy
transition, and we think Terragia has the right team and technology
to become a leader in the field.”
Kristin Brief Joins as CEO
Terragia also announced leadership changes with the appointment
of Kristin Brief as Chief Executive Officer, effective immediately.
Brief joins co-founders Lee Lynd, who transitioned to Chief
Technology Officer, Bill Brady, Board Chair, and Chris Herring,
Vice President of Technology Development.
Brief commented, “It’s an honor to lead Terragia as CEO. I’ve
spent the majority of my 20-year career advancing early-stage clean
energy startups, and Terragia’s technology, team, and path to
commercialization are differentiated. We have a unique opportunity
to make a transformational impact on climate outcomes, in addition
to generating substantially higher revenues for biofuel
producers.”
About Terragia Biofuel
Founded in 2022, Terragia Biofuel is a technology startup on a
mission to develop and deploy technology to produce sustainable
liquid fuels from cellulosic biomass. Using a novel biological
approach to converting cellulosic biomass into ethanol and other
products, the company seeks to enable production of low-cost,
low-carbon liquid fuels for difficult-to-electrify transport modes,
including aviation, ocean shipping and long-haul trucking.
Terragia’s technology development is supported by partnerships with
Dartmouth College and the University of Campinas respectively by
funding from the U.S. Department of Energy’s Center for Bioenergy
Innovation and the Sao Paulo Research Foundation, and by grants to
Terragia from the United States Department of Agriculture and the
National Science Foundation. For more information visit
https://terragiabiofuel.com/.
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Kerry Walker kerry@engineventures.com