Another renewable-based chemical company, this time based in China, entered the IPO scene. Bio-butanol producer Cathay Industrial Biotech filed an initial public offering with the US Securities and Exchange Commission (SEC) on July 19 aiming to raise up to $200m.
The company plans to list on the NASDAQ under the symbol CBIO. We will post more about the company, which the blog covered before. I’m not sure we can talk to Cathay Industrial Bio’s VP Paul Caswell again during its IPO period but I’m sure the S-1 filing will bring a lot of information.
In the meantime, here are this week’s news roundup:
Amyris’ subsidiary Amyris Brasil will begin supplying sugarcane-based diesel to 160 city buses in Sao Paulo, Brazil. the buses will run on a blend of 10% renewable diesel starting August. The supply contract runs through the end of 2012. Amyris said it expects to achieve $10-12m in annual diesel sales.
Elevance raises $50m in private offering
Elevance Renewable Sciences has raised $50m in private offering as reported in a filing with the US Securities and Exchange Commission. The company declined to say what it plans to do with the money.
UK-based plastic bottler recycler ECO Plastics has raised GBP 24m ($39m) to help finance its expansion plans at its Hemswell recycling facility. The funds will support the construction and operation of an expansion to ECO Plastics’ existing plastics processing plant, as well as the investment required to build and operate the Joint Venture business that will supply rPET to Coca-Cola Enterprises over the next ten years.
Japan-based Toray Industries established its Green Innovation business in fibers and textiles division, which will integrate the functions of the polylactic acid fibers business management and marketing as well as that of fibers and textiles recycling business. The new business will focus on warm and cool materials that assist energy-saving efforts and 3GT and PLA based on biomass as well as acceleration of development and commercialization of new products.
Showa Denko expands Li-ion materials capacity
Japan-based Showa Denko (SDK) will expand its production capacities for materials used in lithium-ion rechargeable batteries namely, artificial graphite-based anode material (SCMG), additive in anodes and cathodes (VGCF) and aluminum laminated films for packaging. SDK will expand the capacity of its SCMG™ plant at Omachi, Nagano Prefecture, by stages from 1,000 tons/year to 3,000 tons/year by the middle of 2012 through debottlenecking. As for VGCF™, SDK will add a new production line at its Kawasaki Plant, Kanagawa Prefecture, increasing the production capacity from 100 tons/year to 200 tons/year by the beginning of 2012.
US-based Metabolix expects significant interest and investment in bio-based materials over the coming years as players continue to struggle with volatile oil prices, the company’s CEO and president Richard Eno.
Synthos is confident its newly-formed strategic partnership with French industrial biology company Global Bioenergies will allow it to start pilot production of bio-butadiene within three years.
Plastic bag bans in Brazil spark debate.