April 28th 2015
Cargill acquires OPX Biotechnologies’ fermentation technology.
Cargill has acquired Colorado-based OPX Biotechnologies’ proprietary fermentation-based processes and systems. These technologies are used to produce bio-based chemicals from sugars for use in non-food applications such as lubricants, detergents, plastics, agrichemicals and personal care products.
Cargill is already a large supplier of carbohydrates and other biotech offerings. This acquisition further expands its presence in commercial fermentation products outside of food and feed.
“Our customers that make products in any of these categories will benefit from this technology acquisition because it will enable us to produce more and better solutions for them than they can get from any other company,” said Cargill Corn Milling vice president, Brian Silvey. “It will also make bio-based products with extensive functionality more readily available than ingredients produced using petroleum-based or tropical oils.”
OPXBIO will support the transition to Cargill over the coming months.
“This sale of OPXBIO’s technology to Cargill demonstrates the great progress OPXBIO has made towards product commercialization,” said Mike Rosenberg, CEO of OPXBIO. “Cargill has all the right capabilities and experience to deliver products produced from OPXBIO’s technology to customers.” DecisionPoint Advisors acted as advisor to OPXBIO for this transaction.
Source: http://www.opxbio.com/news-center/news-releases/