Among Thousands of Bioeconomy Project Candidates Nominated, Viridis Chemical is Awarded 35th Hottest Company
IFG Asset Management (“IFG”) is proud to announce that Viridis Chemical, LLC (“Viridis Chemical”) was awarded the 35th Hottest Company in the Bioeconomy for 2023. The award was presented through The Daily Digest as one of the 50 Hottest Companies at the Advanced Bioeconomy Leadership Conference 2023 in Washington DC. The focus of the 50 Hottest Companies was on advanced bioeconomy manufacturing sites, completed or in development, at pilot, demonstration or commercial scale for intermediates or finished products, rather than companies. Viridis won the award for its plant in Columbus, Nebraska, which uses proprietary processes to produce bio-based ethyl acetate from ethanol. Ethyl Acetate is widely used in the production of cosmetics, flexible packaging and coatings, paints and adhesives, as well as many other products.
IFG co-founded Viridis Chemical, the only producer of renewable ethyl acetate (R-Etac) in North America. In Q1 2020, IFG sourced the transaction, recruited an experienced management team, and led a due diligence effort that included contracting with two units of Koch Industries.
Through IFG’s Merchant Banking division, IFG advised on valuation and financing structure and negotiated an exclusive LOI to purchase the facility. IFG was then retained to serve as exclusive financial advisor to raise substantial private equity commitments to close the transaction and to fund Koch’s re-commissioning plan and plant expansion.
Viridis closed the financing in early February 2021, and the lead equity investor was EIV Capital, a top-tier energy midstream and infrastructure private equity firm based in Houston, TX. IFG is a direct co-investor in the financing and has a seat on the Viridis Board of Directors.
About Viridis Chemical
Headquartered in Houston, Texas, Viridis Chemical, LLC is a world-class manufacturer of renewable chemicals. We’re committed to the safe, environmentally sound, and economically viable conversion of bio-Ethanol into useful products previously derived from oil or natural gas. We provide value to our customers by offering a green, domestically sourced alternative to their existing supply chain. Viridis Chemical adds purpose to our suppliers and to the economy of Nebraska by further increasing the range of usefulness of local, agriculturally derived feedstock.
For more information, please visit http://www.viridischemical.com
