In February 2022, GS Biotech, a Chinese bio-based material manufacturer, officially announced the completion of tens of millions of yuan of angel+ round financing. The raised funds will be used to accelerate the R&D of HMF derivatives, the construction of product lines, and the process of product iteration.

It is reported that the core scientific researchers of GS Biotech have graduated from various research institutes of the Chinese Academy of Sciences. They have nearly 20 years of industrialization experience and foundation in the field of biomass catalytic conversion and furan material design and development. They are a new industrial force with the background of the Chinese Academy of Sciences and trained by the Chinese Academy of Sciences. In the second half of 2021, the GS Biotech team broke through the key continuous synthesis process of 5-hydroxymethylfurfural (HMF) and realized continuous and stable industrial operation in the GS Biotech demonstration production base.

Compared with the traditional kettle process (gap discontinuity), the continuous process of GS Biotech can not only significantly reduce the production cost but also the stability of the product can truly meet the requirements of large-scale industrialization. In the future, GS Biotech will build a new industrial chain of bio-based materials from upstream biomass raw materials to downstream derivatives with bio-based platform compounds as the core.