International chemical firm and major energy customer BASF has invested $30 million in biomass technology firm Renmatix as companies around the world continue to ramp up research and development of alternative bio-based fuels and chemicals for industrial purposes.
Renmatix’ technology allows for the production of industrial sugar from wood, cane trash or straw, the American firm said in announcing the new investment. The privately-held firm already operates a facility in Georgia, where it has the capacity to turn three tons of cellulosic biomass into sugar daily. The BASF investment will allow Renmatix to boost production to industrial scale and become more efficient, Renmatix CEO Mike Hamilton said. Keep reading →