In Spring 2010, I took a class with Raul Lobo where the textbook was “Finance for Engineers: Evaluation and Funding of Capital Projects” by F.K. Crundwell. With most of us focused on J Lab that semester, this class was supposed to be the easy one. Well, for the past 24 months, this textbook has become a lived experience, and what a learning experience it continues to be! We had the most incredible internal “deal team” working on this one! Shout out most especially to our illustrious CFO Sean Liu and my best friend Gaurab Chakrabarti, MD, PhD !! Thank you for all of your hard work Tom Richardson Avery Schulz Reynaldo Aloy Kenneth Keckler Benjamin Mitchell Peter Nguyen Max Park Alexander Dimitroff Caitlin Molloy Konrad Miller PhD PE Michael Hamilton and Izza!!
📰 Breaking News! Solugen has secured conditional commitment for a $213.6M loan guarantee from the U.S. Department of Energy (DOE) Loan Programs Office. This financing will support the construction of Bioforge Marshall, our new 500,000 square-foot biomanufacturing facility in Southwest Minnesota. The announcement marks a pivotal milestone in our scale-up journey and a landmark move for American industry. Solugen has now unlocked a critical step in executing our vision to deploy a domestic manufacturing network that brings sustainable solutions to market. We’re thrilled to join an elite group of impactful companies catalyzed by this DOE loan program. Of the companies that have reached this prestigious milestone, only 14 have been startups. Among these, Solugen is the first to successfully scale sustainable chemical manufacturing with our pioneering chemienzymatic technology. As we enter this next phase of growth, we look forward to continuing this important work alongside our customers, strategic partners, and investors. Read Solugen's announcement here: https://lnkd.in/gjQEAXdm Read DOE's announcement here: https://lnkd.in/gyDkmfKn
Well done team Solugen
Sean, huge congratulations!!
Congratulations Sean and the entire Solugen team! Not surprised to learn Raul Lobo was at the forefront of providing you and your classmates insights that would serve you well along for the various cycles of your professional journey. It has been exciting to watch BioForge Marshall evolve from ideation to reality.
Huge congratulations, Sean!
Amazing. Congratulations, Sean and Solugen!
Thank you Dr. Hunt, its been a fun journey! Congratulations to Solugen and everyone on the team!
congrats Sean
Awesome. Congrats Sean and team!
AI Technology Consultant | AI and ML expertise
1moSounds like an incredible journey, Tom! How has the textbook compared to real-life application in your projects?