People & Business :: Emerging Companies
Cargill and Materia Form Specialty Chemical Company
2:23 PM MDT | April 1, 2008 | Michelle Bryner and Rebecca Coons
Elevance Renewable Sciences (Lisle, IL), a company based on a collaboration between Cargill and catalyst technology developer Materia (Pasadena, CA), has been formed to produce bio-based specialty chemicals. The company says it will begin to generate more than $1 billion/year by 2016 and will “aggressively grow” in the $500-billion global specialty chemical market. Sales are “well on target” to achieve more than $20 million this year, says K’Lynne Johnson, Elevance CEO. Elevance has secured more than $40 million in a financing round...
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