AMSilk Announces Extension of Series C Financing to EUR 54M

• Funding enables AMSilk to accelerate industrial scale-up and expand commercial operations of bio-fabricated silk protein materials
• Financing led by existing investors ATHOS (AT Newtec) with participation from Novo Holdings, Cargill, and MIG Capital.

MUNICH, April 4, 2023 /PRNewswire/ -- AMSilk GmbH ("AMSilk"), the world's first industrial supplier of bio-fabricated silk protein materials, today announced it has successfully raised an additional EUR 25 million in an extended Series C financing led by existing investor ATHOS (AT Newtec) with participation from Novo Holdings, Cargill, and MIG Capital.

AMSilk's outstanding technology platform, based on silk proteins, produces bio-fabricated materials that can be utilized across a variety of applications such as textile fibers, medical devices and consumer goods.

Proceeds from the financing will enable AMSilk to accelerate the ongoing scale-up of its industrialization and commercialization projects worldwide, to meet the ever-increasing demand for AMSilk's innovative materials.

AMSilk's unique bio-fabrication reprograms microorganisms to enable them to produce silk proteins into usable forms such as powders, hydrogels, fibers, and coatings. Coupled with its unique fermentation process, this allows the Company to produce complex proteins in large quantities for various market segments including textiles, medical use or consumer goods. AMSilk's bio-fabricated silk materials are 100% protein, fully biodegradable and do not include any source of micro plastics.

Ulrich Scherbel, Chief Executive Officer of AMSilk, said: "We are delighted to have closed this successful financing round which validates our technology and underpins our ongoing development as we scale-up and expand our commercial operations. We will invest in technology to ensure that we continue to provide innovative, attractive solutions to our customers, and improve the commercial supply of our products to expand our business."

Dr Wolfgang Colberg, Chairman of the Advisory Board, added: "This fundraising is a significant step to accelerate the upscaling of AMSilk. This will now create the capabilities to produce in large volumes and meet the high demand growth from our customers, enabling them to create sustainable products in harmony with nature."

Daniel Kolb, Investment Manager at ATHOS KG, stated: "ATHOS has been investing in revolutionary technologies ever since. We are highly interested in bio-materials, because of their proven ability to change the world for the better. As one of the founding investors, we continue to support AMSilk in this important step to scale up its production. AMSilk's game-changing products can have a real impact on the market."

Since the successful EUR 29 million financing in 2021, the Company has invested in partnership agreements with world-leading brands in the apparel, medical and automotive industry, and supply contracts with leaders from the biotech industry.

About AMSilk

AMSilk GmbH is the world's first industrial supplier of innovative bio-fabricated plant based raw materials that are fully biodegradable at industrial quantities, and has its headquarters in Neuried/Munich, Germany. Using a patented biotechnological process, AMSilk's smart-performance biotech material based on silk proteins can be converted into usable forms such as powders, hydrogels, fibers, and coatings. AMSilk's bio-fabricated silk is made from plant-based renewable raw materials that are 100% protein, and does not involve any natural farming processes. The bio-fabricated materials are fully biodegradable under aerobic and marine conditions, and as they do not include any source of micro plastics there is no microplastic wash out during the product life.

Discover more at www.amsilk.com.

SOURCE AMSilk