Besides Evonik, BP Ventures and Monsanto are the other companies who are funding Biosynthetic Technologies Evonik has closed on an equity investment in Biosynthetic Technologies (BT), a specialist in biobased lubricants headquartered in Irvine (California, USA). The investment is a part of Evonik’s plans to invest a total of Euro 100 million in highly promising start-ups with break-through technologies and leading specialist venture capital funds. Biosynthetic Technologies has developed and manufactures a new class of bio-based synthetic oilscalled estolides that are used primarily in the passenger car motor oil and industrial lubricant sectors. Field trials have shown that the technical cha
VitAg Corporation, a specialty fertilizer company, announced today that the Company and its affiliates recently closed equity and debt financing of more than $110 million which will be used in part to construct a biosolids-to-fertilizer facility in Zellwood, Florida. The financings consist of (i) an equity investment led by TPG Alternative and Renewable Technologies (ART), who is now the largest shareholder in the Company; (ii) a $64 million offering of 22-year tax-exempt bonds through the Orange County Industrial Finance Authority led by Citigroup Global Markets; and (iii) a credit facility from an affiliate of Tennenbaum Capital Partners. In addition to TPG ART, equity investors include st
