Perseo Biotechnology — Seed

Repsol, through Repsol Corporate Venturing, took a 25% stake in the newly created Perseo Biotechnology, a spin-off of IMECAL's R&D department, to scale its PERSEO Bioethanol technology from its pre-commercial plant in L'Alcúdia (25 t/day of organic waste) to commercial stage. The amount was not disclosed; the Spanish companies registry shows a €1,749,067 capital increase registered on 2021-01-18, which probably relates to this deal, and PitchBook lists about $2.19M raised in total. Later AVI (VALORBIO) and EU project funding (SOLRESS, FUELPHORIA) were grants, not funding rounds.

LeadRepsol Corporate Venturing RoundSeed Announced11 Feb 2021 CityL'Alcúdia SectorEnergy & Climate · Cleantech / Industrial biotech (waste-to-bioethanol) Source R

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