A game-changer in the green tech industry, Ohio-based Locus Fermentation Solutions (Locus FS) has successfully raised $117 million in financing, bringing its total funding to $250 million. This significant boost in capital showcases the company’s impressive growth and commitment to producing eco-friendly alternatives to chemicals.
Locus FS, founded in 2013 and helmed by CEO Andrew Lefkowitz, employs patented biomanufacturing technology to create customized, biological alternatives to conventional chemicals.
These innovative solutions are designed to help clients achieve their decarbonization goals more rapidly and tackle a wide range of global ESG challenges, such as climate change, food security, product sustainability, water contamination, and oil and mineral demand. The company’s field-proven, biobased ingredients are then commercialized via industry-specific operating divisions.
Jefferies, a global financial services firm, arranged the IP-insurance backed debt financing, which was primarily driven by the value of Locus FS’ intellectual property (IP) and its extensive library of over 1,300 biomanufacturing technology patent filings.
Several leading insurers, including Markel, Liberty Specialty Markets, CNA, Aspen, and Fidelis, participated in a collateral insurance policy based on the company’s valuable IP.
As Locus FS continues to make strides in the green tech industry, its successful financing round signals a bright future for the company and its mission to address pressing environmental challenges through innovative, eco-friendly solutions.