Aymium Secures IP-Backed Debt Financing to Accelerate Growth and Innovation
Aymium secured IP-backed debt financing from Fortress and Kilonova to expand its renewable biocarbon production, support R&D, and grow its patent portfolio, accelerating decarbonization in energy and metals production.
ST. PAUL, Minn.-Aymium, the leading producer of renewable biocarbon products, announced today that it has secured IP-backed debt financing from certain affiliates of Fortress Investment Group (“Fortress”) and Kilonova Capital (“Kilonova”). The credit facility provides working capital to Aymium to support its continued capacity growth, research and development, and expansion of its patent portfolio.
“The new capital allows accelerated development of additional production facilities that will supply renewable products that displace fossil fuels in metals production and reduce millions of tons of greenhouse gas emissions annually,” said James Mennell, CEO of Aymium.
Aymium operates the largest advanced biocarbon production facility in North America and is presently constructing multiple new production facilities to supply its renewable and carbon-negative products to accelerate decarbonization of energy and metals production globally. This includes an investment of over $500 million in new facilities that are under construction in California and Mississippi.
Fortress and Kilonova are leading providers of capital solutions to companies collateralized by the value of intellectual property. Aymium holds the leading intellectual property portfolio globally around biocarbon technologies, with over 500 issued and pending patents. It will use the capital being provided by Fortress and Kilonova to fund continued innovation and development of its environmental technologies and to secure patent protection for those innovations.
“Aymium has developed a unique technology and differentiated portfolio of intellectual property in biocarbon, and we are excited to provide working capital that will help accelerate their growth,” said James Palmer, Managing Director at Fortress.
Wes Goldstein, General Partner at Kilonova, said, “The nature of Aymium’s innovation and breadth of its patent portfolio regarding biocarbon products that decarbonize key industries is unparalleled. We are excited to deploy capital that will allow continued innovation and development of additional production capacity to help address Aymium’s $20 billion customer pipeline.”
About Aymium
Aymium produces high-value biocarbon and biohydrogen products that can be used to immediately replace fossil fuels in the production of metals, energy, crops, and in the purification of water and air with no modifications to equipment or processes. Produced using sustainably sourced biomass – recovered and unusable wood – Aymium’s bioproducts are renewable, carbon-negative, and they replace emission-heavy fossil fuels such as coal and coke. Aymium’s leading technology is backed by more than 500 issued or pending patents on a global basis. Aymium is headquartered in Minnesota.
About Fortress Investment Group
Fortress Investment Group LLC is a leading, highly diversified global investment manager with approximately $53.3 billion of assets under management as of March 31, 2024. Founded in 1998, Fortress manages assets on behalf of over 1,800 institutional clients and private investors worldwide across a range of credit and real estate, private equity, and permanent capital investment strategies.
About Kilonova Capital
Kilonova Capital is a global growth capital firm that buys, builds, and invests in private technology companies. The firm targets opportunities to unlock value in technology and intellectual property, providing capital solutions that support innovation and growth. Kilonova’s investments span various sectors, including renewable energy, technology, and industrials.
