Evonik invests in biobased lubricant maker Biosynthetic Technologies

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 Closes on More than $110 Million in Financing

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

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