LUDWIGSHAFEN, GERMANY (Jan. 3, 12:20 p.m. ET) — BASF SE has invested $30 million in Renmatrix Inc., a Philadelphia-based company that developed a process to produce industrial sugar from lignocellulosic biomass.
BASF said the technology, dubbed Plantrose, makes it possible to produce industrial sugar in large quantities and at competitive cost from non-edible plant mass. Industrial sugars can be used to produce basic chemical products and intermediates.
Privately held Renmatix currently has an operation in Georgia that it says is capable of converting three dry tons of cellulosic biomass to sugar per day.
“We have already demonstrated the functionality of the Plantrose process in a pilot plant. In cooperation with BASF, we will be moving it to the industrial scale,” said Renmatrix CEO Mike Hamilton, in a news release.
Ludwighafen-based BASF announced Jan. 3 that it is making the investment through BASF Biorenewable Beteiligungs GmbH & Co. KG.