US Archer Daniels Midland takes equity stake in Rennovia

11 February 2014 19:33  [Source: ICIS news]

HOUSTON (ICIS)--Archer Daniels Midland (ADM) has committed to a $25m equity investment in catalytic process technology firm Rennovia, the US-based agribusiness major said on Tuesday.

Rennovia is developing catalytic process technology to produce petrochemicals from bio-based feedstocks.

"There is significant and growing demand for chemical products made from renewable feedstocks," said Kevin Moore, ADM vice president for renewable chemicals.

"We are impressed with the technology Rennovia is developing and look forward to the opportunity for its products to join our current portfolio of renewable chemicals - like propylene glycol and ethylene glycol - as they offer increased access to attractive end markets in nylons and other materials," Moore added.


By: Stefan Baumgarten
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