By: ICN Bureau
Last updated : September 17, 2025 9:49 am
The investment follows Mevaldi’s recent award from the Circular Bio-based Europe Joint Undertaking programme
Dutch biotech company Mevaldi has successfully closed a funding round with High-Tech Gründerfonds (HTGF) and ICIG Ventures, the venture capital arm of International Chemical Investors Group (ICIG). This strategic investment will allow Mevaldi to scale up its breakthrough technology, marking an important step towards building a more circular European chemical sector.
Founded in 2020, Mevaldi is pioneering the development of sustainable building blocks for polymers and polyurethanes derived from renewable raw materials. The company’s flagship innovation, 3MPD, is produced via a patented hybrid bio-thermocatalytic process that uses natural feedstocks such as sugar and sawdust. This technology enables the creation of high-performance applications in coatings, adhesives, elastomers, footwear, and insulation materials. Unlike fossil-based alternatives, Mevaldi’s bio-based solutions combine superior material properties with lower environmental impact and competitive pricing, while relying entirely on European production capacity through ICIG’s flexible plant network.
The investment follows Mevaldi’s recent award from the Circular Bio-based Europe Joint Undertaking (CBE JU) programme, and it represents the beginning of a new growth phase. With the support of HTGF and ICIG Ventures, Mevaldi will transition from pilot to demonstration scale and accelerate the commercialization of its next-generation product Pentonext, an innovative bio-based building block for sustainable polyesters and polyurethanes in textiles and elastomers.
“We are delighted to welcome HTGF and ICIG Ventures as strategic partners,” said Roger Ottenheym, CEO of Mevaldi. “Their expertise in scaling industrial technologies and their commitment to sustainability make them ideal investors for our next stage of growth.”
HTGF, one of Europe’s most active early-stage investors with a fund volume exceeding €2 billion, has supported more than 780 startups across Industrial Tech, Life Sciences & Chemistry, and Digital Tech. Dr. Lena-Sophie Schütter, Investment Manager at HTGF, commented: “Mevaldi’s technology offers a highly promising pathway for sustainable materials. With successful scaling, their platform could significantly advance the field of bio-based chemistry. We are proud to support this important development.”
ICIG, with more than €4 billion in annual sales and over 7,150 employees worldwide, is a leading industrial group focused on specialty chemicals and pharmaceuticals. Its venture arm, ICIG Ventures, targets market-oriented innovations in biotechnology, chemistry, and materials. Dr. Pelin Yilmaz, Investment Director at ICIG Ventures, stated: “We see tremendous potential in Mevaldi’s technology to shape the future of sustainable chemistry. Their bio-based building blocks align perfectly with our vision of investing in impactful innovations that drive a circular economy.”
By becoming the world’s first commercial supplier of bio-based 3MPD that is both sustainable and cost-competitive with fossil alternatives, Mevaldi is strengthening Europe’s strategic autonomy while advancing the EU’s ambitions in circularity and climate neutrality.