A venture capital fund dedicated to renewable chemistry

Sofinnova, one of the first venture capital companies in Europe created in 1972, expanded its activity in order to commit itself to life science start-ups and therapeutic innovations. In 2009, it invested in a renewable chemistry project, the BioAmber start-up. This start-up develops technology to produce succinic acid from the fermentation of yeast. Biological carbon replaces fossil carbon. In 2016, Sofinnova created a fund dedicated to renewable chemistry. Institutional investors such as the BPI (Banque Publique d’Investissement), the FEI (Fond Européen d’Investissement) and the Novo Nordisk foundation joined forces with industrialists from the petrochemical sector (Total), the chemical sector (Michelin) and the agricultural sector (Avril and Unigrains). An analysis of the targets of investment based on their carbon footprint shows potential reductions of between 35 and 80 % in greenhouse gas emissions. Is this the sign of an ecological transition in the chemical industry?