AMSilk secures €52 million to boost scale-up
Germany-headquartered biomaterial developer AMSilk has secured €52 million in financing, which will be used to help it scale up.
AMSilk's technology reprogrammes microorganisms to produce biodegradable silk-based proteins, which can be processed into a variety of forms, including powders, hydrogels, fibres and coatings, and are used to produce a new class of fibres for textile applications.
The company has concluded several multi-year production agreements, and production facilities have been installed at its key industrial partners.
Ralph Fraundorfer, chief financial officer of AMSilk, said: "We are grateful to our shareholders for their continued support – especially in today's challenging funding environment. As we move to industrial-scale production, we are focused on establishing robust processes and resilient supply chains."
