US Mascoma acquires Canada’s SunOpta BioProcess biofuels business
01 September 2010 14:15 [Source: ICIS news]
TORONTO (ICIS)--?xml:namespace>US biofuels firm Mascoma has acquired the SunOpta BioProcess Inc. (SBI) business from Canada’s diversified food group SunOpta, it said on Wednesday.
The acquisition would create a company with comprehensive technologies to convert non-food cellulose from wood chips, energy crops and organic solid waste into low-cost cellulosic ethanol and high-value co-products, it said.
The combined entity would have “the leading intellectual property position” in the cellulosic biofuels sector, covering both pre-treatment and consolidated bio-processing technologies, it said.
“The acquisition combines the leading bio-chemical platform companies in Canada and the US, resulting in a company that is well-positioned to achieve the industry’s objective of low-cost, sustainable production of transportation fuels from non-food biomass,” it said.
SBI would be renamed Mascoma Canada and operate as a wholly-owned Canadian subsidiary of Mascoma, Mascoma said without disclosing financial terms.
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