04 September 2012 13:10 [Source: ICIS news]
HOUSTON (ICIS)--Codexis plans to cut about 133 jobs to control expenses and conserve cash, the US-based biofuels and biochemicals technology company said on Tuesday.
“These unwelcome measures were necessary in order for us to maintain a healthy balance sheet in light of our recent loss of funding from Shell,” CEO John Nicols said.
Codexis also said that Shell granted Codexis a non-exclusive license to develop, manufacture, use and sell cellulase enzymes developed under the companies’ research agreement. The license covers enzymes used in biofuels and it is worldwide, except for ?xml:namespace>
“Securing the rights to market these enzymes to advanced biofuel companies outside of Shell is a major milestone for the company,” Nicols said.
Check out Doris de Guzman’s Green Chemicals Blog for views on sustainability issues
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