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
+1 713 525 2653

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index