After announcing its €15 million Serie A funding round, the sustainable chemical company GFBiochemicals entered into an agreement with German chemical giant BASF. Specifically, BTC Europe GmbH, BASF’s European distribution organization, and NXTLEVVEL Biochem, a joint venture and manufactoring arm of GFBiochemicals, signed an agreement on the distribution of biobased and biodegradable solvents derived from levulinic acid for the European market.
Genomatica acquires selected assets of Renewable Energy Group to develop a wider range of renewable chemicals
San Diego-based Genomatica, a technology leader for bio-based chemicals, has acquired certain assets of the REG Life Sciences division (REG LS) of Renewable Energy Group, Inc., the largest supplier of advanced biofuels in North America. Genomatica intends to use these assets to develop a wider range of sustainable chemicals which in turn are used to make numerous everyday materials and products.