With Latest Round of Fundraising Closed, Pyran Inc. Hires CEO and Begins Toll Manufacturing
MADISON, WI – Pyran Inc., a high-growth company that creates high-performing 5-carbon products made from renewable resources, recently announced that it has closed its latest round of fundraising, bringing its total of investments and grants to nearly $4 million. The investment comes from lead investor, Arosa Capital, with support from the venture arm of the Wisconsin Alumni Research Foundation (WARF), and several new investors joined all previous investors in the oversubscribed fundraise. With the latest round of fundraising, Pyran is taking several important steps as it pursues full commercialization: hired an experienced CEO; scaling capacity; and applying for additional matching grants that will expand the company’s product and technology portfolio.
Pyran uses renewable feedstocks from crop resources, such as corncobs, to make 1,5-pentanediol (PDO) — a key ingredient that enhances the performance of everyday materials, such as paints, coatings, adhesives and more. The company’s renewable 5-carbon products replace expensive, petroleum-based chemicals.