Bunge invests in Brazilian biobutanol plant
Next generation bio-based chemicals producer Cobalt Technologies is set to work closely with a subsidiary of agribusiness and food company Bunge.
Bunge Global Innovation ‘s investment into Cobalt, along with chemicals business Rhodia Poliamida e Especialidades, means it will operate a pilot plant demonstrating the production of n-butanol using sugarcane bagasse as feedstock in Brazil.
‘We are pleased to have forged this strategic partnership with Bunge, one of the largest sugar producers in Brazil,’ says Cobalt CEO Bob Mayer. ‘Bunge’s investment and supply of raw material for feedstock will allow us to begin demonstrating the value of our biobutanol technology and help unlock its potential.’
Other investors into the project include Pinnacle Ventures, Malaysian Life Sciences Capital Fund, VantagePoint Capital Partners, The Whittemore Collection, Life Sciences Partners, @Ventures and Harris and Harris.