DSM Venturing invests in Novomer that uses carbon dioxide and other renewable
materials to produce performance polymers, plastics and other chemicals.
DSM Venturing, the corporate venturing unit of Royal DSM N.V., announces
that it has made an investment in Novomer Inc. The companies also plan
to sign a cooperation agreement.
Novomer is currently developing a technology platform that uses carbon
dioxide and other renewable materials in the production of performance
polymers, plastics and other chemicals. The company's products combine
environmental benefits with improved materials performance and can be
used in a range of applications, from plastics injection molded parts
for electronics to paper coatings and medical implants.
DSM Venturing joins Flagship Ventures and Physic Ventures in this financing
round-up. Both the investment and cooperation agreement will support DSM's
ambitions to develop bio-based performance polymers to meet customers'
growing needs for improved polymers, plastics and chemicals materials
performance and environmental benefits at competitive costs.
Furthermore, the cooperation is in line in with DSM's increased focus
on exploiting synergy between its Life Sciences and Material Sciences
activities. The investment in Novomer is the 8th in 2007 for DSM Venturing.
In the recent review of Vision 2010, DSM announced that the budget for
venturing has been increased to up to EUR 200 million up until 2012.
Novomer's catalyst technology enables the production of polymeric materials
from renewable feedstocks with decreased reliance on fossil fuels. Their
use of feedstocks such as carbon dioxide and carbon monoxide combined
with the precision and reliability of synthetic manufacturing processes,
is expected to enable the cost-effective manufacture of bio-based building
blocks, plastics, polymers, compounds and formulations.
Babette Pettersen, Vice President New Business Development for DSM's Performance
Materials cluster: "Novomer's synthetic catalyst chemistry approach
to manufacturing offers great promise for DSM to build on our strengths
in both Material Sciences and Life Sciences to accelerate the development
of customized, cost-effective bio-based performance materials. The cooperation
with Novomer offers DSM a valuable partnership for further developments
in the field, which will be broadly applicable to both existing and potential
new DSM businesses."
"Our relationship with DSM Venturing represents an important validation
of Novomer's technology. DSM gives us a major partner in the chemical
industry with critical expertise in high-volume production and access
to global markets," said Charles Hamilton, president of Novomer.
"In addition, our organizations share a real commitment to sustainability
and innovative technology."
Financial details of this transaction will not be disclosed.
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