Dutch startup Mevaldi secures funding to scale bio-based polymer technology

Geleen, The Netherlands – Dutch biotech startup Mevaldi BV has closed a funding round with High-Tech Gründerfonds (HTGF) and ICIG Ventures, aimed at scaling up its production of bio-based chemicals.

Founded in 2020, Mevaldi specialises in 3-methyl-1,5-pentanediol (3MPD), a bio-based feedstock used primarily in the production of polyurethanes and other polymers.

The new funding follows a grant from the EU's Circular Bio-based Europe Joint Undertaking (CBE JU) programme in July and marks a new phase of growth, Mevaldi said 10 Sept.

With the investment, comprising equity and working capital, Mevaldi plans to move from pilot to demonstration scale and focus on commercialising its flagship 3MPD brand, Pentonext.

The chemical is produced from renewable raw materials through a patented hybrid bio-thermocatalytic process, Mevaldi explained.

“For example, sugar is used to make soles for sneakers, and sawdust serves as the basis for insulation material in housing,” the company said.

According to Mevaldi, the entire production chain is located within Europe, leveraging ICIG's existing ‘flexible plant capacities.’

This, it added, will reduce dependence on global supply chains and support the EU's goals for a circular economy and strategic autonomy.