Finnish pulp and paper manufacturer Stora Enso and US specialty chemicals producer Rennovia have signed a joint development and licensing agreement to cooperate on bio-based chemicals. Under the terms of the agreement, the two companies will cooperate to develop processes for bio-based chemicals of interest to Stora Enso, using Rennovia’s high-throughput catalyst discovery infrastructure and process development expertise.

The California-based firm is focused on the technology development of novel catalysts and processes for the cost advantaged production of chemicals from renewable feedstocks. The Finnish company which is targeting new markets and developing novel products as it transforms into a renewable materials company, called the deal with Rennovia a logical step.

“The joint development and technology agreement will accelerate some of the developments Stora Enso is working on and gives the company a solid platform to move further in building a portfolio of sustainable bio-based solutions for its customers, said Juan Carlos Bueno, executive vice president of the Biomaterials division.

Robert Wedinger, president and CEO of Rennovia, said the agreement underscores the broad applicability of his company’s catalytic technologies to the production of a wide range of bio-based chemical products.