USA: Anellotech Begins Commissioning of New Unit Investment in Biomass Conversion Technology
Anellotech announced a U.S. Securities and Exchange Commission Form, stating that the company has received an equity investment of $ 1.5 million from a new, confidential strategic investor.
Pearl River/USA — The new investor joins existing announced partners such as Axens, IFP Energies nouvelles, Johnson Matthey, Suntory and Toyota Tsusho. Anellotech’s proprietary thermal catalytic biomass conversion technology called Bio-TCat is an alternative technology for the production of aromatics (now made from petroleum), including paraxylene and benzene, from non-food biomass. The bio-based aromatics are used in plastic products, children’s toys, laundry detergent and food and beverage packaging made from sustainable sources.
“When considering the current oil price environment, this is exceptional,” said David Sudolsky, President & CEO of Anellotech. “It signifies a bullish perspective on the cost competitiveness of the Bio-TCat technology, and a strong commitment by our new partner to support the development of bio-based aromatics.”