Toronto : Vertichem announced that it has received $3 million in capital-market funding. The investment will be used to develop the company’s innovative portfolio of green technology products and launch the newly formed enterprise.

The investment enables Vertichem to commercialize its exclusive U.S. patents for its process of using woody biomass to produce high-value specialty chemicals.

Vertichem is a green technology company that creates three specialty chemicals from hardwood chips: lignin, xylose and cellulose. The company, headquartered in Toronto, has the ability to assist the multi-billion dollar specialty chemical industry in meeting its sustainability objectives. In addition, Fortune 100 companies in a variety of industries are trying to achieve sustainability objectives (e.g., carbon-reduction goals). Vertichem’s specialty chemicals will help them do that.

“This investment is a testament to the confidence investors have placed in Vertichem’s ability to stay on the cutting edge of research and development in the green technology space,” said Vertichem Chairman and Chief Executive David Milroy. “This funding allows us to develop a truly world-class, innovative range of green technology products that can make everyday consumer goods ‘greener’.”