BASF invests $13.5 million in Allylix

BASF invests $13.5 million in Allylix

9:22 PM, 12th March 2012
BASF invests $13.5 million in Allylix

LUDWIGSHAFEN, GERMANY/SAN DIEGO, US: BASF Venture Capital GmbH has invested $13.5 million in Allylix Inc, a renewable specialty chemicals company. The BASF subsidiary led a $18.2 million financing round, joined by existing investors Tate & Lyle Ventures, Avrio Ventures and Cultivian Ventures. Allylix has a proprietary technology platform to produce a wide variety of renewable specialty chemicals, such as terpenes and their derivatives, for several industries, including flavour and fragrance, food ingredients and cosmetics.

“Our biotechnological and cost-competitive manufacturing process for specialty chemicals, such as aroma chemicals, will address the consumer preference for affordable and naturally derived products. This round of funding will support the development and delivery of new compounds in Allylix’s pipeline, and will allow us to expand the market for our existing products,” said Carolyn Fritz, President and CEO, Allylix.

© WOC News

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Merck, EAM JV for new hybrid materials

DARMSTADT, GERMANY: Merck and the Cluster of Excellence Engineering of Advanced Materials (EAM) at Friedrich-Alexander-University Erlangen-Nuremberg h ...

Read more
Wacker to stop silicon wafer production, to cut 400 jobs

MUNICH, GERMANY: Siltronic, the semiconductor subsidiary of Wacker Chemie AG, intends to streamline its production capacity for 150 millimetre silicon ...

Read more
Superthin nanoglue for next-generation microchip fabrication

CALIFORNIA, US: Engineers at the University of California, Davis, have invented a superthin “nanoglue” that could be used in new-generatio ...

Read more
Molycorp acquires rare earth processor for $1.3 billion

GREENWOOD VILLAGE, US/ONTARIO, CANADA: Molycorp will acquire Neo Material Technologies for approximately $1.3 billion. Neo Materials shareholders will ...

Read more
Low-cost, 3-D paper sensors invented

AUSTIN, US: Chemists at The University of Texas at Austin have developed a 3-D paper sensor that may be able to test for diseases such as malaria and ...

Read more
Bayer CropScience acquires germplasm assets of ProSoy Genetics

MONHEIM, GERMANY: Bayer CropScience has acquired the germplasm assets of ProSoy Genetics, the soybean breeding division of privately-held Thompson Agr ...

Read more