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.