BASF to invest $5 million in Solidia Technologies

9:38 PM, 1st February 2012

BASF to invest $5 million in Solidia Technologies

Thomas Schuler, President and CEO, Solidia Technologies.

LUDWIGSHAFEN, GERMANY/ PISCATAWAY, US: BASF Venture Capital GmbH is investing $5 million in Solidia Technologies Inc as part of $27 million financing round. The current round of financing also included Kleiner Perkins Caufield and Byers, BP Ventures and Bright Capital, the venture arm of Ru-Com Corporation. Solidia Technologies enables sustainable production of a new generation of building and construction materials, materials with lower life-cycle cost and smaller environmental footprint than concrete. The technology uses CO₂ as a reactant, consuming and sequestering this greenhouse gas during production.

“The global building and construction market offers a significant opportunity for this innovative technology. Our process has been developed in the pilot scale to date and BASF can add a lot of value with its knowledge of chemistry and process engineering. We are optimistic that joining forces will enable us to target and rapidly deploy scalable applications,” said Thomas Schuler, President and CEO, Solidia Technologies.

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