AMSilk’s latest funding is said to reflect its strong investor confidence and a long-term commitment in AMSilk’s technology and market potential.
The financing was led by existing investor ATHOS (AT Newtec) with strong participation from other existing investors MIG Capital and Novo Holdings.
The money will be combined with its €30m in equity, and €22m in convertible bonds and the proceeds will be used to build further commercial traction and support AMSilk’s next phase of industrial scale-up.
AMSilk believes this will help it to meet growing global demand for its silk-based protein materials.
AMSilk’s chief financial officer Ralph Fraundorfer said: “We are grateful to our shareholders for their continued support – especially in today’s challenging funding environment. The investment demonstrates confidence in our clear path-to-market, scalable technology and strong partner network. As we move to industrial-scale production, we are focused on establishing robust processes and resilient supply chains — providing clear commercial proof of our ability to deliver on our industrial commitments and scale our innovative biomaterials for global markets.”
Chairman of AMSilk’s advisory board Dr Wolfgang Colber added: “At AMSilk, we are very excited about the enthusiasm of our customers for our products and the high demand we are seeing. With the committed funding from our investors, we can now work with our partners to massively scale-up production. This is a significant step towards establishing a completely new industry in Europe and around the world for high-performance biotech materials that can be used in countless applications.”
AMSilk has concluded several multi-year production agreements, establishing a long-term basis for industrial output and supply reliability.
It has installed dedicated production facilities that are specifically configured for the manufacturing of its proprietary silk-based protein materials at its key industrial partners. This means AMSilk can produce at scale with consistent quality and reliability across its product portfolio.
AMSilk’s silk-based protein technology creates novel, sustainable biomaterials by reprogramming microorganisms to produce silk-based proteins which can be processed into a variety of forms, including powders, hydrogels, fibres, and coatings. These 100% protein-based, fully biodegradable, and microplastic-free biomaterials are used to produce a new class of fibres for textile applications in the fashion and automotive industry and serve as functional ingredients in the consumer care sector.
