Elevance Renewable Sciences Inks $100 Million

Elevance Renewable Sciences, which produces specialty chemicals for personal care products and fuel markets, has raised $100 million in new financing. The Series C round was led by Luxembourg-based private equity group Naxos Capital Partners. Total Energy Ventures International, the venture capital arm of French oil & gas company Total, also participated, as did TPG Capital units TPG Biotech and TPG Growth. The new financing will be used for growth, and to open bio-refineries in Asia, North America and South America. Formed in 2007, Elevance is based in Bolingbrook, Illinois.

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