ERJ staff report (BC)
Mountain View, California – Biochemical developer Cobalt Technologies has announced a “strategic relationship” with two prominent Asian chemical companies (unnamed) for the development of a biomass-to-butadiene solution, to be followed by construction of a commercial-scale biorefinery in Asia.
The partners also plan to build or license additional plants. In support of the relationship, the partners have made an equity investment in Cobalt.
The company’s CEO Bob Mayer said: "This agreement validates Cobalt's ability to leverage its biobutanol platform into large high-value markets for downstream chemicals. … We now have a path to fully-funded, large scale commercial projects in two of the three main geographies for bio-based projects – Asia and Brazil.
"We believe that our long-term focus on using biomass-based feedstock, as opposed to food-based sugars, has resulted in a technology advantage and lower cost production that is attracting partners worldwide."
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