Renmatix Accelerates Commercial Progress with Acquisition of Former Mascoma Production Unit
— Resulting ‘Feedstock Processing Facility’ (FPF) Enhances Plantrose Technology Assets & Enables Efficient Supply for Renmatix’s IPC Cellulosic Sugar Operations
PHILADELPHIA, May 5, 2015 – Renmatix, the global leader in affordable cellulosic sugars for renewable chemicals and fuels markets, announced that it has acquired existing assets of the former Mascoma corporation’s 56,000 square foot manufacturing facility in Rome, NY. The new Feedstock Processing Facility (FPF) is dedicated to the first step in conversion to cellulosic sugar (from different types of biomass materials) utilizing proprietary Plantrose® process conditions. The FPF opened officially on April 20, 2015, as the third U.S. location for Renmatix. This move creates a secure supply for Renmatix and its development partners at the IPC in Kennesaw, GA., where the second step in production of Plantro® sugars is performed.
The deal is the most recent in a series of strategic moves and prominent milestones for Renmatix over the last nine months, including: a Series D investment from French energy group, Total, the acquisition of Sweden-based REAC’s intellectual property portfolio, and a significant expansion of the company’s Integrated Plantrose Complex (IPC) facility in Georgia. Each of these transactions advance Renmatix on its path to commercialization of the Plantrose technology, including fulfillment and execution of previously announced JDAs with key licensing partners. Expansion of biomass processing, on-going partner production runs, and integration across the supply chain, serve in anticipation of commercial biorefinery investment activity by Plantrose licensees.
“This acquisition strengthens the company and our value proposition for investors and partner licensees,” said Mike Hamilton, CEO of Renmatix. “In addition to standard technical or IP based investments & acquisitions, the opportunity to acquire the former Mascoma location and equipment allows us to economically utilize a broad range of biomass, and further optimize the operating conditions in our Plantrose process. This new equipment in our Rome location gives us increased flexibility and quality control that can be applied across multiple feedstocks.”
The company has hired 12 full-time employees locally, as it begins operations in Rome. “We’re pleased to welcome Renmatix, an accomplished leader and enabler of bioindustrial technology,” said Anthony J. Picente, Jr., Oneida County Executive. “This is a real positive for the City of Rome and the County as we continue to build our economic vitality through an increasingly diversified industrial hub.”
Renmatix is the leading technology licensor for the conversion of biomass into cellulosic sugar, an enabling feedstock for petroleum alternatives used in the global biochemical and biofuels markets. The company’s proprietary Plantrose® process challenges conventional sugar economics by cheaply converting cellulosic biomass – from wood waste to agricultural residue – into useful, cost-effective sugars. Renmatix’s supercritical hydrolysis technology deconstructs non-food biomass an order of magnitude faster than other processes and enhances its cost advantage by using no significant consumables. www.renmatix.com