Locus Fermentation Solutions, a Solon, OH-based green tech company that produces biological alternatives to chemicals, raised $117M in funding.
The IP-insurance backed debt financing arranged by Jefferies brought the total amount to $250M.
Founded in 2013 and led by CEO Andrew Lefkowitz, Locus Fermentation Solutions (Locus FS) uses patented biomanufacturing technology to deliver biological alternatives to chemicals that accelerate the meeting of decarbonization goals for clients. These solutions are tailored to address global ESG challenges—including climate change, food security, product sustainability, water contamination, oil and mineral demand. Once field proven, the biobased ingredients are commercialized through industry-specific operating divisions.
The financing was driven by the value of Locus Fermentation Solutions’ intellectual property (IP) and library of more than 1,300 biomanufacturing technology patent filings. Markel, Liberty Specialty Markets, CNA, Aspen and Fidelis all participated in a collateral insurance policy based on Locus FS’ IP.
