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Trillium Announces Close of Series A Financing, Raising $10.6 Million

New investment round led by Hyosung and HELM AG will accelerate the commercialization of Trillium’s process to manufacture chemicals from plant-based materials.

Knoxville, December 5, 2022
Trillium Renewable Chemicals (www.trilliumchemicals.com) announced today it has raised a $10.6M Series A financing round. The first closing totaled $5.5M and was led by Hyosung Advanced Materials Corporation. Current investor Capricorn Partners also participated. HELM AG has agreed to join the Series A round to bring the total to $10.6M. This funding builds on the company’s non-dilutive award of $2.5M from the US Department of Energy. Following a successful pilot program, the funding advances Trillium to the next phase of commercialization – the construction and operation of a market demonstration unit.

Trillium’s innovative Bio-ACN™ process sustainably converts plant-based feedstocks into valuable chemicals like acrylonitrile and acetonitrile. Acrylonitrile is currently manufactured from oil and gas derivatives to make a diverse range of consumer and industrial goods including carbon fiber, plastic, textiles, flocculant, synthetic rubber, and other valuable materials. These materials are used in finished products such as apparel, auto parts, aerospace parts, medical gloves, toys, consumer electronics, personal care products, sporting goods, and water treatment chemicals.

Young Joon Lee, Vice President at Hyosung, said: “We are excited to be a partner with TRC for this innovative technology development and the commercialization pathway. Sustainability is at the heart of Hyosung’s future growth strategy, and we firmly believe that our strong partnership will take us to the next level of industry leadership in renewable chemicals space.”

Andreas Woschek, Executive Vice President at HELM AG, said: “HELM is highly committed to grow its chemical business via sustainable solutions. Our engagement in Trillium marks another milestone in delivering tangible actions via our sustainability strategy. The combined skillsets of the partners supporting Trillium now provides an exciting opportunity to commercialize the innovation of bio-based, low carbon Acrylonitrile to the market.”

“Demonstrating our technology at scale is job one,” said Corey Tyree, CEO of Trillium. “Financial backing from HELM AG and Hyosung advances Trillium to demonstration scale. The addition of strategic investors also validates our technology and our potential. With funding from quality partners, we can realize our potential to become a leading producer of renewable chemicals.”

Rob van der Meij and Wouter van de Putte from the Capricorn Sustainable Chemistry Fund, managed by Capricorn Partners, and Board Member of Trillium added: “It is great to have such constructive co investors that bring significant value to the company for the scale up and market introduction.”

Media Relations
Elena Brennan
+1 (865) 329-0553
elena@piper-communications.com

Janneke Menzel
+49 (40) 2375 1855
janneke.menzel@helmag.com

Ju Han Lee
+82 (2) 707-7650
juhan@hyosung.com

Follow us on Twitter @TrilliumChem


ABOUT TRILLIUM RENEWABLE CHEMICALS
Trillium is replacing oil and gas with plant-based feedstocks in the manufacturing of green, drop-in molecules. Trillium has developed proprietary thermochemical technology to convert plant-based feedstocks like glycerol into valuable chemical intermediates (acrylonitrile and acetonitrile). Acrylonitrile is used to manufacture a wide-range of materials (e.g., acrylonitrilebutadiene-styrene (ABS) plastic, carbon fiber, acrylic fiber, nitrile butadiene rubber (NBR), acrylamide, specialty amines). As the worldwide demand for these chemicals increase, Trillium is providing a green alternative. Learn more at www.trilliumchemicals.com

ABOUT HYOSUNG ADVANCED MATERIALS
Founded in 1968, Hyosung Advanced Materials Corporation (HAMC), is the global no. 1 polyester tire reinforcements company with an annual revenue of 4B USD. HAMC’s business covers industrial material of various applications that serve a variety of industries. In response to the transition of the mobility industry and the need for green technology, HAMC continues to develop and commercialize high-strength and light-weight materials that contribute to less product carbon emissions. Learn more at www.hyosungadvancedmaterials.com

ABOUT HELM AG
HELM is a Hamburg, Germany, based family-owned company established in 1900. HELM is one of the world’s largest chemicals marketing companies and committed to providing solutions to its partners that support a successful transformation to a sustainable economy and society. The company secures access to the world’s key markets through its specific regional knowledge and its multinational presence in more than 30 countries. As a multifunctional marketing organization HELM is active in the chemicals industry, in the agricultural industry and in pharmaceuticals, generating global revenues of EUR 6 billion per year. Learn more at www.helmag.com

ABOUT CAPRICORN PARTNERS
Capricorn Partners, an independent Leuven (Belgium) based manager of venture capital and equity funds, invests in innovative companies with technology as a competitive advantage. It operates under an AIFM license granted by the FSMA (the Financial Services and Markets Authority in Belgium). The investment in Trillium is made from the Capricorn Sustainable Chemistry Fund. Learn more at www.capricorn.be

Trillium awarded DOE funding for biobased acrylonitrile demonstration plant

New award will enable Trillium and its project partners (Solvay, Koch Modular, MATRIC) to demonstrate sustainable production of acrylonitrile at scale.

Knoxville, December 5, 2022
Trillium Renewable Chemicals has been selected by the Department of Energy’s Advanced Manufacturing Office to receive $2.5 million to accelerate commercialization of Trillium’s process to manufacture bio-based acrylonitrile product. Trillium and its development partner (MATRIC) are currently operating a pilot plant in Charleston, West Virginia. This nondilutive funding, in combination with Trillium’s recent Series A closing of $10.6M, provides funding to Trillium and MATRIC to design, build, and operate a market demonstration unit – the next step in Trillium’s commercialization plan. Trillium will provide product to Solvay for validation of the product for use in manufacturing of carbon fiber. Solvay will also perform an independent ISO 9001 lifecycle analysis of Trillium’s product. Koch Modular will provide a front-end loading engineering design of a first commercial plant.

Acrylonitrile is a chemical intermediate typically made from petroleum-based feedstocks like propylene and is a key raw material used in the production of carbon fiber, acrylic fiber, acrylamide, ABS plastic, nitrile butadiene rubber, and other valuable products. Trillium’s BioACN™ process delivers acrylonitrile from plant-based feedstocks like glycerol with a lower carbon footprint. By starting with biobased raw materials, Trillium’s product offers the potential to decarbonize a wide range of industrial and consumer products.

“Demonstration of the Bio-ACN™ process at larger scale is an exciting next step,” explains Corey Tyree, CEO of Trillium. “Thanks to the Department of Energy, this project brings together participants across the supply chain to accelerate progress by supporting our next major commercial milestone. The unit will produce the volumes needed to qualify as a supplier. And it will provide the information we need to further de-risk and design a commercial plant. Trillium is proud to be amongst the awardees.”

Media Relations
Corey Tyree
+1 (205) 757-5938
ctyree@trilliumchemicals.com

Elena Brennan
+1 (865) 329-0553
elena@piper-communications.com

Follow us on Twitter @TrilliumChem


ABOUT TRILLIUM RENEWABLE CHEMICALS
Trillium is replacing oil and gas with plant-based feedstocks in the manufacturing of green,
drop-in molecules. Trillium has developed proprietary thermochemical technology to
convert plant-based feedstocks like glycerol into valuable chemical intermediates
(acrylonitrile and acetonitrile). Acrylonitrile is used to manufacture a wide-range of
materials (e.g., acrylonitrile-butadiene-styrene (ABS) plastic, carbon fiber, acrylic fiber,
nitrile butadiene rubber (NBR), acrylamide, specialty amines). As the worldwide demand for
these chemicals increase, Trillium is providing a green alternative. Learn more at
www.trilliumchemicals.com

Trillium raises $10.6 million for biobased acrylonitrile, acetonitrile

Trillium raises $10.6 million for biobased acrylonitrile, acetonitrile

Source: Chemical & Engineering News

The start-up Trillium Renewable Chemicals has closed a $10.6 million series A funding round that the firm says it will use to build a demonstration-scale plant for its catalytic biobased acrylonitrile process.

The distribution company Helm and the chemical maker Hyosung Advanced Materials participated in the round. Capricorn Partners, which helped fund Trillium’s 2021 spin-off from the nonprofit Southern Research Institute, also invested.

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