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Market
Primary market for Solugen's biomanufactured chemicals in 2024?
4
Resolution / Starting Odds
Pharmaceuticals • 33%
Agriculture • 33%
Industrial Manufacturing • 33%
Official press release from Solugen or market analysis reports
Story
Solugen Secures $213.6M DOE Loan for 'Bioforge' Biomanufacturing Facility in Minnesota
Jun 13, 2024, 12:32 PM
Solugen has secured a conditional commitment for a $213.6 million loan guarantee from the U.S. Department of Energy's Loan Programs Office. The funding will support the construction of a new biomanufacturing facility, referred to as a 'bioforge,' in Southwest Minnesota. This facility aims to produce sustainable chemicals using corn and biology, marking a significant step in Solugen's scale-up journey. Solugen's new plant is expected to contribute to the domestic manufacturing network for critical chemicals, aligning with broader efforts to promote innovation and sustainability in the U.S.
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Pharmaceuticals • 25%
Biotechnology research • 25%
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Biosimilars launched • 50%
Biosimilars not launched • 50%
North America • 25%
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Asia • 25%
Other • 25%