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Renmatix lands USD50m for cellulosic technology
By
Editorial
Wed Jan 4 2012, 09:14 AM
Renmatix has landed USD50m in an equity funding round led by BASF. The German chemical firm is contributing USD30m to the round, with undisclosed new and existing backers providing the remainder. Pennsylvania-based Renmatix is developing technology for producing industrial sugars from cellulose-based biomass such as wood and straw. Industrial sugars can be used to produce biofuels and basic chemical products through fermentation.
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