The first product being brought to market is Tethex, which provides a bio-based, biodegradable alternative to the $8 billion global superabsorbent polymer market for diapers that has been dominated by petrochemicals made from sodium polyacrylate.
"This round of funding is an important milestone," said Tethis co-founder and CEO Scott Bolin. "It's a testament to the hard work our team has put together to validate our technology and prepare it for commercial scale. We're excited to join with our investors and partners on our mission to provide bio-based solutions to major problems like enabling sustainable diapers for everyone."
"We are excited about the potential of the Tethis products," said Steve Lerner, one of the BHG managing partners. "Scott and the team have developed a transformative technology that will fundamentally change the diaper industry by moving it into a more sustainable space less dependent on oil. We're proud to be a part of this significant phase."
In addition to Lerner, Blue Hill Group managing partners include Liggett CEO Ron Bernstein, and banking executive Jonathan Hornaday.
"We're tremendously pleased to have added such a wealth of commercial and industrial experience to our team," said Tethis' chairman Chris Evans. (RR)
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