Dutch biotech company Mevaldi B.V. has completed a funding round with High-Tech Gründerfonds (HTGF) and ICIG Ventures, the venture capital arm of International Chemical Investors Group (ICIG). This investment will support Mevaldi’s efforts to scale its innovative technology for producing green chemicals.
Mevaldi is a pioneer in creating sustainable building blocks for polymers and polyurethanes from natural biological raw materials. Since its founding in 2020, the company has developed 3MPD, a bio-based building block for high-performance applications in coatings, adhesives, and elastomers.
Unlike fossil-based alternatives, 3MPD is produced from renewable raw materials through a patented hybrid bio-thermocatalytic process. For example, the company uses sugar to make soles for sneakers and sawdust as insulation material for housing. The result is high-quality materials with lower environmental impact and competitive prices.
The entire production chain is located within Europe, utilizing ICIG’s existing flexible plant capacities. This setup reduces dependence on supply chains outside Europe. The recent funding follows a grant from the EU’s Circular Bio-based Europe Joint Undertaking (CBE JU) program and marks a new phase of growth for Mevaldi.
With this investment, comprising equity and working capital, Mevaldi plans to move from pilot to demonstration scale. The company will also focus on commercializing its flagship product, Pentonext®, a bio-based building block for sustainable polyesters and polyurethanes used in textiles and elastomers.
HTGF, one of Europe’s leading early-stage investors, manages a fund exceeding €2 billion. It has supported over 780 startups across industries including green chemicals and biotech.
Mevaldi aims to become the world’s first commercial supplier of bio-based 3MPD that is both sustainable and cost-competitive with fossil alternatives. This development supports the EU’s goals for strategic autonomy, climate neutrality, and a circular economy, making a direct contribution to greener chemicals and sustainable manufacturing.
