Pacific Ethanol, Inc. a leading producer and marketer of low-carbon renewable fuels in the United States, and Edeniq, Inc., a biorefining and cellulosic technology company, entered into a technology licensing and purchase agreement to enable the production of cellulosic ethanol at Pacific Ethanol’s Madera, California, plant using Edeniq’s Pathway and Cellunator™ Technologies.
Aemetis and Edeniq, both headquartered in California (USA), announced they have entered into a definitive agreement under which Aemetis will acquire all of Edeniq’s outstanding shares in a stock plus cash merger transaction.
Edeniq, a leading cellulosic ethanol technology company, has developed patented innovations that unlock cellulosic and starch sugars through a combination of mechanical and biological processes. Its capital light and operationally efficient solutions can be easily integrated into existing corn ethanol plants. The company, founded in 2008, has raised approximately $100 million from some of the world’s leading venture capital firms, including Kleiner Perkins Caulfield & Byers, Draper Fisher Jurvetson, Angeleno Group, The Westly Group, I2BF Global Ventures, and other leading investors, as well as US Department of Energy (DOE) grant funding.