Cobalt and Rhodia to Jointly Develop Bagasse based Bio n-Butanol Market in Latin America
Mountain View, CA & Sao Paulo, Brazil - Oct 19, 2011 - Cobalt Technologies, a leading developer of next generation bio-based chemicals and Rhodia, a specialty chemical company, today announced the execution of a Memorandum of Understanding setting the basis for a strategic alliance to develop bio n-butanol refineries throughout Latin America.
Under the terms of the alliance, Cobalt and Rhodia will work together to
deploy Cobalt’s technology for the conversion of sugar cane bagasse
into n-butanol for the chemicals and fuels market. The parties will
initially develop options for deploying Cobalt’s technology at a sugar
mill. Following this first step, the partners will jointly develop a
demonstration plant to demonstrate Cobalt’s technology on site in
Brazil. Following the demonstration plant the parties intend to
construct multiple bio-refineries co-located with sugar mills, first in
Brazil and then in other Latin American countries.
This relationship establishes a clear path to commercialization for our
technology,” said Rick Wilson, Ph.D., and CEO of Cobalt Technologies.
“Rhodia is the perfect partner for expansion into Brazil and Latin
America. They have a long history of successful operations in Brazil
and have significant experience in sugar mill operations through their
ownership of a bagasse-based power plant co-located with a sugar mill.
Additionally, Rhodia is a renowned global chemical company, providing us
a unique opportunity to market our products internationally through our
partnership.”
Bio n-butanol based on bagasse will enlarge our Augeo® range of
biosourced solvents and perfectly fits with Rhodia’s sustainable
development strategy. We are convinced that Cobalt’s bagasse-based
leading-edge technology will provide an unmatched cost advantage over
the long term,” said Vincent Kamel, president of Rhodia Coatis Business
Unit. “There is undoubtedly a huge potential for bio n-butanol in Latin
America and beyond and we are looking forward to building a large
international business with Cobalt.”
About Cobalt Technologies
Cobalt is the leading company in the
production of low cost bio n-butanol, a platform molecule for the production of
renewable chemicals and fuels, from cellulosic feedstocks. Bio n-butanol is a widely used industrial
chemical found in paints, lacquers and other surface coatings, with a global
market of over $5 billion, approximately eight times the size of the market for
isobutanol. By producing low-cost bio n-butanol, Cobalt’s unique technology enables the use of bio n-butanol as a platform
molecule for application in a broad array of chemical markets, including the
plastics and synthetic rubber markets. Cobalt’s low-cost platform also enables
fuels production such as jet fuel, where, Cobalt and the U.S. Navy have jointly
developed technology to convert Cobalt’s bio n-butanol into full performance
jet fuel and are on track to achieve fuel certification.
Cobalt’s technology platform offers a continuous process to efficiently convert
diverse non-food feedstocks into biobutanol.Engineered to achieve low costs through its proprietary biocatalyst, advanced bioreactor and energy efficient design and the use of low-cost feedstock, Cobalt is making biobutanol and its derivatives a cost-effective substitute to
petroleum-based chemical products. Cobalt is based in Mountain View, CA. Cobalt is backed by leading investors in the cleantech sector, including Pinnacle Ventures, Malaysian Life Sciences Capital Fund, VantagePoint Capital Partners, Parsons & Whittemore, Life Sciences Partners (LSP), @Ventures, Harris & Harris and Burrill and Company.
About Rhodia
Rhodia is an international chemical company resolutely committed to
sustainable development. As a leader in its businesses, the Group aims
to improve its customers’ performance through the pursuit of operational
excellence and its ability to innovate. Structured around 11 Global
Business Units (GBUs) within 5 business clusters, Rhodia is the partner
of major players in the automotive, electronics, flavors and fragrances,
health, personal and home care markets, consumer goods and industrial
markets. The Group employs around 14,000 people worldwide and generated
sales of 5.23 billion in 2010.
Coatis a Rhodia Global Business Unit develops oxygenated solvents and manufactures phenol-based products and derivatives specifically for the worldwide market
About SolvaySOLVAY is an international industrial Group active in Chemistry. It offers a broad range of products and solutions that contribute to improving quality of life. The Group is headquartered in Brussels and employs about 14,800 people in 40 countries. In 2010, its consolidated sales amounted to EUR 7.1 billion. Solvay is listed on the NYSE Euronext stock exchange in Brussels, Belgium (NYSE Euronext: SOLB.BE - Bloomberg: SOLB.BB - Reuters: SOLBt.BR).