Elevance Withdraws IPO Registration

Biobased chemical company Elevance Renewable Sciences (Woodbridge, IL) says it has withdrawn its filing for an initial public offering because of poor equity market conditions and the addition of $104 million in Series E financing, announced on July 10. Elevance had filed for an IPO worth up to $100 million in September 2011. Spun out of Cargill in 2007, Elevance’s technology platform can produce biobased olefins, including a reportedly unique distribution of alpha and internal olefins for chemicals and advanced fuels; multifunctional...

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