18 December 2013 14:02 [Source: ICIS news]
LONDON (ICIS)--US-based cellulosic sugar firm Renmatix said on Wednesday that it has entered into an agreement with Germany-based chemicals giant BASF to jointly scale up the company’s Plantrose system to develop bio-sugars based on lignocellulosic biomass.
The two companies have signed a non-exclusive joint development agreement, and agreed financial terms for future commercial licenses, to be exercised at BASF’s discretion, the company said.
The Plantrose technology allows the production of industrial sugars from a range of non-edible biomass including wood, agricultural residues and straw. BASF invested $30m(€22m) in the company in January 2012.
($1 = €0.73)
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