LANXESS steps up commitment bio based raw materials

LANXESS steps up commitment to bio based raw materials

4:09 PM, 7th June 2011
LANXESS steps up commitment to bio based raw materials
Dr Axel C Heitmann, Chairman, Lanxess.

  • $ 17 million invested in Gevo’s IPO
  • 10-year exclusive supply agreement with Gevo
  • Biobased butyl rubber successfully produced in tests

 

LEVERKUSEN, GERMANY: Strengthening its focus to produce premium synthetic rubber from biobased raw materials, Lanxess has increased its minority shareholding in Gevo Inc that focuses on renewable chemicals and advanced biofuels.

 

Lanxess’ shareholding now amounts to 9.1 per cent after it invested $ 17 million in the US-company’s initial public offering (IPO). LANXESS initially invested $ 10 million in Gevo as part of a private placement in May 2010.

 

The increased investment suggests progress made by the companies in developing isobutene from renewable resources. Isobutene is a key raw material needed in the manufacture of butyl rubber. “As the world’s largest purchaser of isobutene, it is only prudent that we seek other supply options from renewable sources as an alternative to traditional fossil fuels. This investment also sharpens our focus on ‘Green Chemistry’ and sustainable production,” said Dr Axel C Heitmann, Chairman, Lanxess.

 

Isobutene is conventionally produced in steam crackers, which use various petrochemical-based materials as feedstock. Alternatively, Gevo is developing a fermentation process to produce the organic compound isobutanol from the fermentable sugars in biomass, starting with corn. At the same time, LANXESS is developing a dehydration process to convert isobutanol into isobutene.

(C) WOC News

 

 

 

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