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BASF signs joint development deal with cellulosic sugar firm
5:46 AM MST | December 18, 2013 | Rebecca Coons
BASF and Renmatix (King of Prussia, PA) announced today that they will jointly scale up Renmatix’s Plantrose process for extraction of industrial sugars from lignocellulosic biomass. The two companies also signed a non-exclusive joint development agreement and agreed to key financial terms for future commercial licenses, which BASF—a significant shareholder in Renmatix after a January 2012 equity investment of $30-million—can exercise at its discretion. Additional terms were not disclosed. Renmatix’s Plantrose technology breaks down...
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