Bunge joins Cobalt as strategic investor

Bunge joins Cobalt as strategic investor

10:37 AM, 2nd November 2012
Bunge joins Cobalt as strategic investor
Robert Mayer, CEO, Cobalt Technologies.

MOUNTAIN VIEW, US: Cobalt Technologies, a leading developer of next generation bio-based chemicals, announced that Bunge Global Innovation LLC, a wholly-owned subsidiary of global agribusiness and food company Bunge Limited, has joined its Series E Preferred Stock round as a strategic investor.

The investment follows Cobalt’s agreement with Bunge and specialty chemicals company Rhodia Poliamida e Especialidades Ltd to operate a pilot plant demonstrating the production of n-butanol utilizing sugarcane bagasse as feedstock at the Laboratorio Nacional de Ciencia e Tecnologia do Bioetanol facility in Campinas, Brazil. The terms of the agreement also provide for the parties to work together on co-location of a demonstration scale facility and to consider co-location of a commercial-scale biorefinery at a Bunge sugarcane mill.

“We are pleased to have forged this strategic partnership with Bunge, one of the largest sugar producers in Brazil. Bunge’s investment and supply of raw material for feedstock will allow us to begin demonstrating the value of our biobutanol technology and help unlock its potential,” said Robert Mayer, CEO, Cobalt Technologies.

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