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Business
ADM Invests In Biotech Rennovia
by Alexander H. Tullo
February 17, 2014
| A version of this story appeared in
Volume 92, Issue 7
Agricultural processing giant Archer Daniels Midland is making a $25 million equity investment in Rennovia. The biobased chemical start-up is developing a catalytic process to make the nylon 6,6 raw materials adipic acid and hexamethylenediamine from sugar. ADM says it is impressed with Rennovia’s technology and expects the biotech’s products to join its stable of renewable chemicals such as propylene glycol and ethylene glycol. Two years ago, ADM pulled out of a joint venture with Metabolix to make the biobased plastic polyhydroxyalkanoate.
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