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Elevance Files For $100-Million IPO

12:22 PM MDT | September 21, 2011 | Rebecca Coons

Elevance Renewable Sciences (Bolingbrook, IL), a maker of renewable chemicals based on metathesis technology, has filed for an initial public offering up to $100 million. The number of shares and expected price of the offering were not disclosed. According to the filing, the company expects to use the proceeds to fund capital expenditures, R&D, and working capital. Spun out of Cargill in 2007, Elevance’s technology platform can produce biobased olefins, including a "unique distribution" of alpha and internal olefins for chemicals and advanced...

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