Total invests in cellulosic sugar producer Renmatix; joint development agreement
03 March 2015
Renmatix, a producer of cellulosic sugars, announced an investment from the New Energies Division of Total, as well as the signature of a joint development agreement (JDA) between Total and Renmatix. Under the agreement, Renmatix and Total will utilize Renmatix’s proprietary Plantrose process with specific feedstocks to extract sugar for use in production of biobased products of interest to Total. (Earlier post.)
In concert with the investment and R&D projects, Total also joins the Renmatix Board of Directors. Existing Renmatix investors, including BASF and Kleiner Perkins Caufield & Byers, join Total in the initial tranche of this Series D fundraise.
The patented Plantrose process uses supercritical water to reduce costs in conversion of biomass to cellulosic sugars, the critical intermediary for second generation biofuels and biochemicals. With faster reactions and no associated consumable-expenses, Renmatix’s supercritical hydrolysis economically enables a multitude of renewable process technologies to address the market needs for high-volume, low-cost, broadly-sourced cellulosic sugars that persists today.
Renmatix’s technology to extract second-generation sugars from biomass has the potential to significantly benefit cellulosic sugars economics and is one more milestone in Total’s efforts to develop sustainable and profitable biomolecules for products of interest to Total.
—Bernard Clement, Senior Vice President, Total New Energies
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