Wednesday, November 29, 2023

GA_P, AGM advise on Polybion´s €4m funding round

Gómez-Acebo & Pombo has advised Blue Horizon as lead investor in Polybium´s €4 million Series A funding round, advised by AGM Abogados


Polybion, the company growing premium, next-generation materials designed with nature and manufactured with biology, has announced that its bacterial cellulose facility – the world’s first – is scaling up production, and the successful closing of a US$4.4 million (€4 million) Series A financing round led by Blue Horizon.

At maximum capacity, Polybion’s solar-powered, industrial-scale bacterial cellulose manufacturing facility will produce 1.1 million square feet per year of the company’s proprietary biotextile Celium®. Polybion is using the new funds to expand the company’s carbon-neutral bio-manufacturing facility, increase research and development efforts, and deploy Celium into consumer goods.

“Scaling the production of Celium, a sustainable alternative to animal-based textiles and petroleum-derived synthetics, is a huge step on Polybion’s mission to bring performance and possibility to 21st-century designers and materials engineers,” said Axel Gómez-Ortigoza, co-founder and CEO of Polybion. “We are excited to partner with Blue Horizon, as we share a common vision on accelerating sustainability and the circular economy. In addition, having Blue Horizon as a partner allows us to scale new initiatives to build our brand and network.”

Tanmay Annachhatre, Blue Horizon principal said: “We are happy to partner with Polybion and join Alexis, Axel, and the rest of this great team on their journey to create new and fully sustainable materials. Consumers, brands, and manufacturers are all seeking novel, sustainable materials. Few other companies have moved as quickly as Polybion to scale production of a completely circular material.”

Gómez-Acebo & Pombo advised Blue Horizon with a team led by Corporate partner and head of the New York office David González, along with Corporate lawyer Javier Reyna.

AGM Polybion
From left to right: Francisco Lacasa, Julio Menchaca and Félix Navas (AG;M Abogados)

AGM Abogados advised Polybion with a team formed by partner Francisco Lacasa Lobera and area manager Julio Menchaca Vite, with the support of lawyer Félix Navas Mir.

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