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BASF signs joint development deal with cellulosic sugar firm

5:58 AM MST | December 20, 2013 | —Rebecca Coons

BASF and Renmatix (King of Prussia, PA) announced 18 December that they will jointly scale up the latter’s Plantrose process for extraction of industrial sugars from lignocellulosic biomass. The two companies have also signed a nonexclusive 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 have not been disclosed....

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