BASF SE, the world’s largest chemical company, agreed to collaborate with Renmatix Inc. to produce industrial sugars from cellulosic biomass.
The companies signed a non-exclusive joint development agreement to use Renmatix’s Plantrose technology and settled on terms for commercial licenses that Ludwigshafen, Germany-based BASF may exercise in the future, according to a statement today. Terms weren’t disclosed.
Renmatix’s technology converts wood, straw, agricultural waste and other sources of non-food biomass into sugars that may be used in biofuels and chemical products. BASF invested $30 million in the King of Prussia, Pennsylvania-based company in January 2012.
“The Plantrose process addresses our needs for renewable raw materials,” Peter Schuhmacher, president of BASF’s process research and chemical engineering division, said in the statement. “It will help us to support our customers in developing solutions that contribute to sustainable development.”