Global Bioenergies, an industrial biology company that develops sustainable routes to light olefins, announced a new €740,000 (US$952,000) financing from OSEO, a French SME-funding state agency, to support the creation of an isobutene production strain compatible with industrial pilot testing. (Earlier post.)
This is OSEO’s third financing on the Company’s program aiming at the conversion of renewable resources into isobutene. This financing comes in the form of an interest-free loan to be reimbursed from 2016 onwards. OSEO’s financing of various development stages of Global Bioenergies’ isobutene program amounts, since 2009, to a total of €2 million (US$2.6 million).
The main objective of this new phase is to obtain a series of isobutene production strains and to conduct laboratory pilot tests. Chemical engineering studies are also carried out in preparation of the industrial pilot phase which will soon lead to the production of isobutene at greater scale.