An affiliate of Malaysia-based conglomerate Genting Group and France-based oil major Total’s corporate venturing unit have helped Elevance Renewable Sciences raise $104m in its series E financing.
Elevance makes chemicals for personal care products, detergents, lubricants and other specialty chemicals as well as fuel from renewable feedstocks.
Lacustrine Limited, an affiliate of Genting Berhad, the investment holding company of Genting Group, and Total Energy ventures led the round.
Tan Sri Lim Kok Thay, executive chairman of Genting Berhad, will join the Elevance board of directors.
Last year Elevance Renewable Sciences raised $50m. Elevance raised $100m in its series C round from a consortium in December, including Total Energy Ventures International, the corporate venturing unit of French oil major Total.
Venture capital firm Naxos Capital Partners led the C round, and was joined by private equity firm TPG’s biotech and growth funds. Elevance spun off from seeds company Cargill in…
