Entering the US Market GF Biochemicals Acquires Leading Levulinic Acid Derivatives Producer Segetis
GF Biochemicals, the largest producer of levulinic acid directly from biomass and at an industrial scale, acquires the assets and intellectual property of Segetis, the main levulinic acid derivatives producer in the US market.
Washington D.C./USA – Segetis brings unique knowhow and expertise, including over 250 patents applications worldwide. The company has acquired Segetis’ production plant based in Minnesota (USA), and will establish a direct presence in the US market under GF Biochemicals Americas.
Marcel van Berkel, Chief Commercial Officer of GF Biochemicals, commented: “Levulinic acid is one of the world’s most versatile building blocks for substituting oil-based products. With the acquisition of the Segetis assets and IP, including the Javelin brand of levulinic ketals technology, we can accelerate market entry for levulinic acid and its derivatives.”
Segetis is a premium levulinic acid derivatives producer with several proprietary applications – including fragrances, plasticizers for PVC & biopolymers, personal care, household & industrial cleaners, agrochemicals formulations and coating / adhesive strippers industries – coming from years of research and market development.
High-value partnerships with major companies
Van Berkel continued: “This acquisition marks an important transformational moment for GF Biochemicals and the beginning of growth strategy. The Company will continue on a development path based on both organic growth via the creation of high-value partnerships with major companies, as well as the potential for further acquisitions of levulinic acid’s derivative technologies”.