By Josh Beckerman

Solugen, which seeks to "decarbonize the chemicals industry," raised over $350 million of Series C financing led by GIC and Baillie Gifford.

The round including participation from Temasek Holdings, BlackRock Inc., Carbon Direct Capital Management, Refactor Capital and Fifty Years.

Solugen will use the funding to expand its Bioforge technology platform, which is used to produce lower-carbon and carbon-negative chemicals and materials, and expand its product offerings. Solugen's first product, Bioperoxide, was created with technology to convert plant sugars into hydrogen peroxide.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

09-09-21 1317ET