Investments
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Stora Enso acquires cellulosic sugar developer Virdia
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I know this is a late news but still worthwhile reporting. Stora Enso, a Finnish pulp, paper and packaging company, has acquired 100% of the shares of the US-based cellulosic sugar developer, Virdia, for $33 million (EUR 24 million) with additional potential payouts totaling approximately $29 million following completion of specific technical and commercial milestones…
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Danish biorefinery receives EU funding
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The EU Commission has awarded €39 million in funding from the NER300 program to Maabjerg Energy Concept, a consortium of companies that include DONG Energy, Novozymes, and local utilities, Vestforsyning, Struer Forsyning and waste management company Nomi, towards the construction of a 80m liters/year cellulosic biorefinery in western Denmark. Today, most of the 1st generation bioethanol…
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Evonik invests in Biosynthetic Technologies
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German specialty chemical company, Evonik, has closed on an equity investment in Biosynthetic Technologies, LLC (BT), a specialist in biobased lubricants headquartered in Irvine, California. BT has developed and manufactures a new class of bio-based synthetic oils called estolides that are used primarily in the passenger car motor oil and industrial lubricant sectors. Field trials have…
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BioAmber expands Vinmar contract, expects to raise $33.6m in stock offering
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Further catching up to news from last week, BioAmber announced that it has expanded its take-or-pay contract with Vinmar International with a total 210 ktpa bio-succinic acid/bio-BDO supply for 15 years. Under the new contract, Vinmar has committed to purchase 10 ktpa of bio-succinic acid from BioAmber Sarnia, a joint venture with Mitsui & Co. The succinic acid…
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Elevance, Genting in Malaysia biorefinery venture
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Hello readers of the blog. I am back from vacation but I think I need another one as I go through my emails today. That being said, this email from Elevance Renewable Sciences is another good news from the company as it announced today its new 25:75 biorefinery collaboration with Genting Plantations Berhad through Genting…
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METEX licenses bio-PDO tech to SK Chemicals
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Before I leave for my vacation, let me post this interesting news about METabolic EXplorer’s (METEX) recent announcement about its partnership with South Korea-based SK Chemicals Co. Ltd. Instead of producing its own glycerine-based PDO (1,3 propanediol), France-based METEX decided to instead exclusively license its technology to SK Chemicals, and therefore the company has terminated…
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Matrìca inaugurates green chemistry complex
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Tecnon OrbiChem’s 10th Bio-Materials & Intermediates issue is now out and here are the highlights of the report: Ethylene/Polyethylene Petro-based PE coatings are being replaced by bio-based and biodegradable resins Glycols Jilin Zhongxin Chemical Group is building a 120 ktpa bio-based EO with bio-based MEG as byproduct Polyethylene Terephthalate 5-Chloromethylfurfural (5-CMF) is being developed as…