Bain Capital completes significant equity investment in EcoCeres

January 18, 2023

BY Bain Capital Private Equity

Bain Capital Private Equity, a leading global investor, announced that it has completed a significant equity investment in EcoCeres Inc., an innovative biorefinery company with leading R&D capabilities. The transaction follows Series A investment in EcoCeres from Kerogen Capital in February 2022.

EcoCeres is an Asia-based advanced biorefinery platform with industrial-scale production capacity that converts waste-based biomass into a wide spectrum of biofuels, biochemicals and biomaterials. The Company is one of the few players in the world to produce commercialized HVO (hydro-treated vegetable oil), SAF (sustainable aviation fuel), and cellulosic ethanol. It has a dedicated R&D team with strong chemical engineering backgrounds, and commercially available combined capacity of 300,000 tons per annum of HVO and SAF in operation. Through the implementation of core proprietary technologies, EcoCeres is building up distinct bio-refining capabilities to deliver decarbonization solutions. 

Philip Siu, co-founder and CEO of EcoCeres, said, “Our partnership with a blue-chip investor like Bain Capital is yet another strong vote of confidence in our leadership in the critically important decarbonization sector. It is my heartfelt belief that both Bain Capital and Kerogen Capital have made their wise decisions to invest in EcoCeres – the innovative advanced bio-refinery platform. A good start means half way to success, I look forward to a strongly bonded and long-term win-win partnership to serve our common goal for a better and sustainable future.”

Advertisement

Advertisement

EcoCeres will benefit from Bain Capital’s deep industry experience and resources to further scale up international business in the global markets and advance renewable energy technologies, among other growth initiatives. 

Alan Chan, chief investment officer of Hong Kong & China Gas Ltd. (Towngas), which incubated EcoCeres and remains as a strategic shareholder in the company, noted, “Having a world-class investor such as Bain Capital on the board will accelerate the growth trajectory of EcoCeres, especially with international expansion, by leveraging Bain Capital’s global platform and resources.”

Advertisement

Advertisement

Jonathan Zhu, a partner and co-head of Bain Capital Private Equity in Asia, said, “We are highly impressed with the company’s R&D capabilities, enabling the utilization of 100 percent waste-based feedstocks and the generation of significant carbon savings. We see an enormous opportunity for the Company to help clients to achieve decarbonization targets and ultimately become a key contributor in reducing greenhouse gas emissions globally. We look forward to joining hands with EcoCeres and other shareholders to bring the business to its full potential.”

James Tam, a partner of Bain Capital Private Equity in Asia, noted, "This investment is testimony to Bain Capital's commitment to sustainable growth and reducing climate impact. We embrace EcoCeres' vision to build a global leader in decarbonization solutions much needed by the world to attain carbon neutrality, and believe we will form a productive partnership with EcoCeres and Towngas to achieve this goal."

 

 

Related Stories

Bangkok Airways Public Company Limited has officially announced the adoption of sustainable aviation fuel (SAF) on its commercial flights, reinforcing Thailand’s green aviation industry. The initiative took effect starting July 1, 2025.

Read More

Avalon Energy Group LLC and Sulzer Chemtech have signed a strategic alliance and partnership agreement to scale up the production of SAF. Under the agreement, Avalon has selected BioFlux technology for its portfolio of SAF projects.

Read More

Neste and DHL Express have strengthened their collaboration with the supply of 7,400 tons (9.5 million liters) of neat, i.e. unblended, Neste MY Sustainable Aviation Fuel to DHL Express at Singapore Changi Airport starting July 2025.

Read More

CoBank’s latest quarterly research report, released July 10, highlights current uncertainty around the implementation of three biofuel policies, RFS RVOs, small refinery exemptions (SREs) and the 45Z clean fuels production tax credit.

Read More

The U.S. Energy Information Administration maintained its forecast for 2025 and 2026 biodiesel, renewable diesel and sustainable aviation fuel (SAF) production in its latest Short-Term Energy Outlook, released July 8.

Read More

Upcoming Events

Sign up for our e-newsletter!

Advertisement

Advertisement