11 June 2013 07:32 [Source: ICIS news]
SINGAPORE (ICIS)--Finnish renewable fuels producer UPM said on Tuesday it has entered into a collaborative agreement with US-based technology provider Renmatix in the area of biochemicals.
Under the agreement, both companies will further develop Renmatix’s Plantrose process to convert woody biomass into low-cost sugar intermediates for subsequent downstream processing into biochemicals, UPM said in a statement.
“Offering cost-competitive bio-alternatives for select petrochemicals on an industrial scale is the long-term goal of this initiative,” it said.
Financial details of the agreement were not disclosed.
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