Funding | Jul 2021
DAB doubles expansion funding
DAB, the leading expert in Separation Technology of oil-based fermentation, is pleased to announce it has doubled the pre-series A fundraise that was announced in January 2021. The raise follows the progress made with DAB’s FAST demonstration plant, that will be placed at Bio Base Europe Pilot Plant in Ghent, and the general progress with partners and customers. The funding allows a significant expansion of the laboratory facilities and scientific staff, and a substantial extension of the runway. This includes an ambitious demonstration programme for a range of different compounds, and an increased IP portfolio.
Both existing and new shareholders participate in the round. DAB is delighted to welcome Invest-NL and Nemho as investors. Invest-NL aims to increase sustainability and innovation in The Netherlands and enables financing for promising high-tech businesses. Nemho is the center of excellence for innovation and technology for all Broadview material companies. The extended shareholder base positions DAB very well for the series-A financing round that is foreseen in 2022.
DAB’s mission is to transform bio-manufacturing into a powerful and cost-effective tool that accelerates the replacement of finite, fossil-based compounds with renewable ones. The patented FAST technology reduces product costs with 20-50+%. DAB is working with a range of partners from diverse geographies to demonstrate the enhanced FAST production as a prelude to small-scale commercial manufacturing. Our partners value the pioneering approach of integrating production process development and strain engineering since they strongly interact, and need to be pursued concurrently.
DAB – Delft Advanced Biorenewables B.V. – develops, uses and markets advanced fermentation technology. The spin-out from Delft University of Technology has developed the game-changing FAST platform: Fermentation Accelerated by Separation Technology. This advanced fermentation technology is based on the in-situ product removal technique, offering fermentation and separation in a single vessel. DAB is owned by its management and private shareholders.