LUDWIGSHAFEN, GERMANY (June 15, 1:25 p.m. ET) — BASF SE has struck a bioplastics development deal with BioTork LLC, a U.S.-based biotechnology firm.
Global plastics and chemicals leader BASF will work with BioTork of Gainesville, Fla., to develop microbial strains for industrial production of biopolymers and green chemicals.
The two firms began working together earlier this year. In a June 12 news release, BioTork Chief Scientific Officer Tom Lyons said that a pilot study between his firm and BASF showed that engineered micro-organisms could be used for maximal industrial performance by using adaptive evolution.
Financial terms of the deal were not disclosed. Marc Penicaud, BioTork's business development vice president, said in the release that his firm “will dedicate all the necessary resources to ensure BASF achieves major advancements in the production of high value bio-based chemicals.”
BioTork's mission, according to the release, is to achieve complete replacement of crude petroleum oil with biomass-derived equivalents.
BASF ranks as one of the world's largest chemical companies. The Ludwigshafen, Germany-based firm employs more than 111,000 and has annual sales of almost $96 billion.