Virent announced that The Coca-Cola Company is making an additional investment in the company’s development and commercialization of its bio-based paraxylene, BioFormPX. This investment will enable Virent to scale up separation and purification of BioFormPX material at its demonstration plant in Madison, WI.
Virent and The Coca-Cola Company have been working together since 2011, when they first announced their Joint Development Agreement and a Master Supply Agreement focused on the development of bio-based PX technology.
In the course of their work with The Coca-Cola Company, Virent has progressed their PX technology to commercial readiness, improved the process economics and produced bio-based PX which has been converted by The Coca-Cola Company into 100% bio-based PET bottles. This new investment will allow production of larger quantities of BioFormPX material.
Virent has run its demonstration system to fulfill a number of fuel and chemical orders since it started operation in 2010. This added capability to produce larger quantities of purified PX will be combined with additional system enhancements to increase production capabilities, including larger volumes of bio-fuel and other bio-materials.
Virent’s patented technology features catalytic chemistry to convert plant-based materials into a full range of products identical to those made from petroleum, including gasoline, diesel, jet fuel, and chemicals for plastics and fibers.
The products are drop-in replacements that enable full utilization of existing logistics infrastructure without blending limitations. The development of Virent’s BioForming technology platform is supported through strategic partners including Cargill, Coca-Cola, Honda and Shell.