Netherlands-based Vertoro has successfully closed the first tranche of its Series B funding round, securing €17 million. This investment is earmarked for scaling its innovative lignin-based technology, which converts plant waste into renewable oil for various applications.
The funding round was notably led by Climate Tech Partners, Invest-NL, and Maersk. Vertoro’s core technology focuses on transforming agricultural byproducts into sustainable bioliquids, targeting the production of low-carbon fuels and chemicals.
This strategic capital infusion underscores increasing interest in bio-based solutions for industrial decarbonization. By converting plant waste into valuable resources, Vertoro addresses both waste management challenges and the demand for renewable alternatives.
The successful close of this Series B tranche positions Vertoro to significantly expand its operational capacity and market reach, accelerating the deployment of its plant-waste-to-renewable-oil technology in the coming period.