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Zymergen Takes Aim at $3 Trillion Chemical & Materials Industry With $300 Million in New Funding

Added 09-08-20 04:04:03pm EST - “Science and material innovation company Zymergen today announced $300M in new investment to accelerate its delivery of revolutionary, high performance materials. The investment includes initial Series D funding led by Baillie Gifford,…” - News.yahoo.com

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Posted By TheNewsCommenter: From News.yahoo.com: “Zymergen Takes Aim at $3 Trillion Chemical & Materials Industry With $300 Million in New Funding”. Below is an excerpt from the article.

One of the largest deep tech investments of 2020 to fuel additional product releases and development of breakthrough materials

EMERYVILLE, Calif., Sept. 8, 2020 /PRNewswire/ -- Science and material innovation company Zymergen today announced $300M in new investment to accelerate its delivery of revolutionary, high performance materials. The investment includes initial Series D funding led by Baillie Gifford, joined by Baron Capital Group and one of the world's largest sovereign wealth funds, as well as additional growth financing from Perceptive Advisors. A number of current investors are also returning, and Zymergen expects to raise additional capital in Q4 as part of a Series D round.

This infusion of capital powers Zymergen's charge into the $3 trillion chemical and materials industries, speeding the manufacture of their groundbreaking Hyaline film, as well as the commercialization of additional breakthrough products across electronics, agriculture, consumer care and healthcare.

Zymergen develops and launches better performing products more sustainably and for a fraction of the cost and time that it typically takes using incumbent techniques. A unique combination of biology, chemistry, machine learning and lab automation underpins Zymergen's powerful proprietary platform, driving the company's ability to discover, design and commercialize never-before-seen materials.

Zymergen's broad portfolio of products is a beacon of innovation in an otherwise stagnant chemical and materials sector. The American Chemistry Council reported that the U.S. chemical industry contracted by 3% in 20191, an industry that has produced no breakthrough materials since the 1980s. Beholden to existing manufacturing infrastructure and outdated practices, many legacy chemical companies have reduced investments in research and new material development, leaving people with inferior products and a planet with increasing environmental damage. Even while contracting, the U.S. chemical industry remains a huge contributor to global climate change, generating over 190 million metric tons of greenhouse gas emissions in 2018 alone as reported to the EPA2.

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