First Bight Ventures, a Houston-based venture capital firm focused on advancing and accelerating early-stage bioindustrial innovation, announces that three of its portfolio companies have been awarded a combined $5.25 million from the U.S. Department of Defense’s Distributed Bioindustrial Manufacturing Program.
Biomanufacturing has the potential to support the U.S. military, allies, and partners by producing essential materials—ranging from fuels and chemicals to food and medical supplies—with significant implications for military readiness.
The three First Bight-backed companies that were awarded include:
- Algenesis Corporation, based in San Diego, CA, received $1.5 million for the planning and development of a new domestic facility focused on producing diisocyanates, essential precursors for polyurethanes.
- Industrial Microbes, based in Alameda, CA, received $1.55 million to plan a commercial-scale facility for converting ethanol feedstock into acrylic acid, a key component used in coatings, adhesives, sealants, lubricants, corrosion inhibitors, and wound dressings.
- Visolis, based in Hayward, CA, received awarded $2.25 million to plan a facility for the domestic production of a platform chemical that can be transformed into rocket propellants, explosive binders, and sustainable aviation fuel.