GFBiochemicals Buys Segetis Levulinic Acid Assets
GFBiochemicals, an Italian producer of levulinic acid, has purchased the assets and intellectual property of Segetis, a US-based producer of levulinic acid derivatives, for an undisclosed sum.
The acquisition, which GFBiochemicals described as “transformational,” adds the technology for converting levulinic acid into bio-based intermediates and specialty chemicals used in a wide range of consumer products. Applications include flavors and fragrances, cosmetics, plasticizers, household and industrial cleaners, bioplastics and coatings, and agrochemicals, among others.
It also gives GFBiochemicals a direct presence in the US market where the company plans to open offices as GFBiochemicals Americas.
Segetis, which has a pilot-scale facility in Golden Valley, Minnesota, holds more than 50 patents and has more than 200 patent applications pending worldwide. GFBiochemicals has a commercial-scale levulinic acid plant in Caserta, Italy, based on a range of biomass feedstocks, including cellulosics.
Marcel van Berkel , chief commercial officer of GFBiochemicals, said the company will continue on its development path based on organic growth and the creation of high-value partnerships with major companies, as well as the potential for further acquisitions of levulinic acid’s derivative technologies and applications.
Segetis emerged in the late 2000s as one of the first wave of companies targeting renewable chemicals. It raised nearly $40 million in financing as it developed a portfolio of applications for renewable levulinic acid.
