FPF enables efficient supply for Renmatix's IPC cellulosic sugar operations
Renmatix, a technology licensor for the conversion of biomass into cellulosic sugar, has acquired existing assets of the former Mascoma 56,000ft2 manufacturing facility in Rome, New York.
The new feedstock processing facility is dedicated to the first step in conversion to cellulosic sugar (from different types of biomass materials) utilising proprietary Plantrose process conditions. The facility was officially opened on 20 April 2015 as the third US location for Renmatix.
This move creates a secure supply for Renmatix and its development partners at the IPC in Georgia, where the second step in production of Plantro sugars is performed.
The deal is the most recent in a series of strategic moves and prominent milestones for Renmatix over the last nine months. The company has also received a Series D investment from French energy group, Total; has acquired Sweden-based REAC's intellectual property portfolio; and is expanding its Integrated Plantrose Complex (IPC) facility in Georgia.
Each of these transactions advance Renmatix on its path to commercialisation of the Plantrose technology, including fulfilment and execution of previously announced JDAs with key licensing partners. Expansion of biomass processing, on-going partner production runs, and integration across the supply chain, serve in anticipation of commercial biorefinery investment activity by Plantrose licensees.
'This acquisition strengthens the company and our value proposition for investors and partner licensees,' says Mike Hamilton, CEO of Renmatix. 'In addition to standard technical or IP based investments and acquisitions, the opportunity to acquire the former Mascoma location and equipment allows us to economically utilise a broad range of biomass, and further optimise the operating conditions in our Plantrose process. This new equipment in our Rome location gives us increased flexibility and quality control that can be applied across multiple feedstocks.'
SOURCE: Renmatix
