Investments
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Tesoro acquires Virent
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And technology acquisitions continue…. Oil refining company, Tesoro Corporation, announced today that it will acquire renewable fuels and chemical company Virent to support its success in bringing biofuels technology to commercial scale. Tesoro’s renewable fuels strategy is to foster the development of high-quality, lower-carbon, renewable feedstocks and blendstocks that can either be co-processed in existing refineries or…
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VIDEO: More Bio investments in Canada
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After my recent post on US government investment in Maine, here’s one from the Government of Canada with a $12 million funding to Bioindustrial Innovation Canada (BIC) to create 478 full-time equivalent jobs and result in 250 new industrial collaborations, especially among small and medium-sized businesses. The funding is going to be used to support…
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US Commerce Dept. invests in Bio-Based Maine
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The US Department of Commerce’s Economic Development Administration (EDA) will invest $519,930 as part of a $856,549 project to Bio-Based Maine, in partnership with the University of Maine, to develop a road map to advance biobased manufacturing, marketing Maine’s biobased assets to investors in new technologies and processes, and providing technical assistance to Maine forest…
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TerraVia sells Algenist
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TerraVia (formerly Solazyme) recently announced the sale of 80% of its interest in its Algenist business to Tengram Capital Partners, a private equity firm that focuses exclusively on consumer and retail companies that owns exclusive, highly recognizable brands. As part of the transaction, TerraVia will continue to be an ingredient supplier for the Algenist brand, which includes…
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USDA Biobased Funding applications now open
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The U.S. Department of Agriculture (USDA) is seeking applications for funding to help support the development of advanced biofuels, renewable chemicals and biobased products. Funding is being provided through the Biorefinery, Renewable Chemical and Biobased Product Manufacturing Assistance Program, formerly known as the Biorefinery Assistance Program. The program provides loan guarantees of up to $250…
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Metabolix rejects Cellulac merger proposal
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I can’t really write any long posts this week due to tight newsletter deadline but I just saw a confirmation from UK-based Cellulac that it has proposed a merger to Metabolix, which was then rejected. Last week, Metabolix announced that it is closing its biopolymers (PHA-based) business with a layoff of around 45 positions (50%…
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Toyota Tsusho expands bio-PET investments
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I am back from a brief mini-vacation and my apologies for those who left emails and messages that I have not yet responded to. I am now working on Tecnon OrbiChem’s Biomaterials newsletter and will probably be able to respond to those by first week of August. Here is one story that I will include…