Elevance Renewable Sciences Raises $100 Million in Series C Financing

By Elevance Renewable Sciences, PRNE
Monday, December 20, 2010

BOLINGBROOK, Illinois, December 21, 2010 - Elevance Renewable Sciences, Inc. announced today that it has raised $100
in its Series C financing round. Elevance produces high performance
ingredients for use in personal care products, detergents, lubricants and
other specialty chemicals and fuel markets from renewable feedstocks. Naxos
Capital Partners led the round with additional new investors, including Total
Energy Ventures International, joining TPG Biotech and TPG Growth in the

The investment will support Elevance's continued growth, including
expansion and creation of biorefineries in Asia, North and South America.

"Elevance is pleased with our rapid progress commercializing our products
and technology," said K'Lynne Johnson, CEO of Elevance. "This round of
financing supports our company's continued growth and innovation in making
quality, high-performing renewable chemicals available on a world scale
basis. The addition of Naxos Capital Partners and Total Energy Ventures
International builds on the strength of our existing investors, and is an
important step forward in achieving our goal of global expansion."

Elevance was formed in 2007, with more than $40 million in capital and
technology invested by TPG, Cargill and Materia. Major developments from
Elevance in 2010 include a joint venture with Wilmar International to build
the world's largest biorefinery in Indonesia, and a joint development
agreement with Stepan Company to commercialize novel surfactants and
antimicrobials. In addition to Wilmar International and Stepan Company,
Elevance counts Cargill Inc., Dow Corning Corporation, Trent University,
Tetramer Technologies, United Soybean Board and SaskCanola among its
strategic partners.

About Elevance Renewable Sciences, Inc.

Based in Bolingbrook, Ill., Elevance Renewable Sciences, Inc. creates
valued specialty chemicals from natural oils. Using a Nobel Prize-winning
technology called olefin metathesis, the company creates high performance
ingredients for use in personal care products, detergents, fuels, lubricants
and other specialty chemicals markets. To learn more about Elevance, visit

About Naxos Capital Partners

NAXOS Capital Partners is a Luxembourg based private equity group focused
on acquiring and developing businesses with unique intellectual property or
market positions. The NAXOS team is focusing on investments in areas where
they have a successful track record including agro and food business, energy
and clean-technology. Through active, hands-on ownership, NAXOS is committed
to creating long-term sustainable value for its portfolio companies and

About Total Energy Ventures

Total Energy Ventures is the venture capital arm of French oil & gas
major Total. Its investments support the development of companies with
innovative technologies and business models in areas such as alternative and
renewable energies, efficient use of energy and natural resources, waste
management and greenhouse gas reduction, etc. that will help meet the
challenges of the energy transition. The investments primarily consist of
acquiring minority interests in selected companies during capital increases
to help finance their development.

Total is one of the world's major oil and gas groups, with activities in
more than 130 countries. Its 96,000 employees put their expertise to work in
every part of the industry - exploration and production of oil and natural
gas, refining and marketing, gas & power and trading. Total is working to
keep the world supplied with energy, both today and tomorrow. The Group is
also a first rank player in chemicals.

About TPG Biotech

TPG Biotech is part of the growth equity and venture investment platform
of TPG, the global private investment firm. TPG Biotech targets investments
in pharmaceutical discovery and development, medical technology, diagnostics,
healthcare and pharmaceutical services, life sciences, as well as industrial
applications of biotechnology. TPG Biotech has access to the broader
resources of TPG. Please visit www.tpgbiotech.com.

About TPG Growth

TPG Growth is the middle market and growth equity investment platform of
TPG, the global private investment firm. TPG Growth targets investments in a
broad range of industries and geographies, utilizing leveraged buyout, growth
equity, and private investment in public equity (PIPE) structures. TPG Growth
has offices in the United States, China and India.

    Anthea Holley and Mia Quinn, Public Strategies, Inc.
    +1-940-704-0777 and +1-202-354-8270
    aholley@pstrategies.com and mquinn@pstrategies.com

Anthea Holley, +1-940-704-0777, aholley at pstrategies.com, or Mia Quinn, +1-202-354-8270, mquinn at pstrategies.com, both of Public Strategies, Inc., for Elevance Renewable Sciences, Inc.

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