Finland’s UPM enters into biochemicals deal with US' Renmatix

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.

By: Nurluqman Suratman

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