Renmatix Acquires Sweden-based REAC Fuel's Intellectual Property
-- Bioindustry's Leading Cellulosic Sugar Producer Expands IP Portfolio for Plantrose Technology
PHILADELPHIA, Dec. 16, 2014 /PRNewswire/ -- Renmatix, the architect of affordable cellulosic sugars for the global renewable chemicals markets, today announced it has acquired the intellectual property rights and know-how of REAC Fuel. Based in Sweden, REAC has developed intellectual property that complements Renmatix's significant expertise and existing portfolio of supercritical technology patents and applications. The acquisition expands Renmatix's value proposition for licensing their Plantrose™ Process to produce cost-competitive cellulosic sugars.
The Plantrose Process utilizes supercritical water to convert biomass into cost-advantaged cellulosic sugars using primarily water, with no significant consumables. An industry study, released in Alberta this year, identified Renmatix's Plantrose technology as a critical factor for enabling a larger bioeconomy "due to the potential to link its products to the production of multiple high value chemical products via numerous synthetic biology platforms." Access to cheaper sugars will allow many downstream partners to profitably commercialize their respective technologies for a variety of cellulosic applications.
Prior to the acquisition, in support of its licensing model, Renmatix had already established a robust Intellectual Property portfolio including: 25 patents, and 225 total applications, which include 176 national filings that can mature into patents; 16 of these 25 patents were issued in the past year. The REAC IP portfolio will expand Renmatix's current cellulosic technology holdings and rights on supercritical hydrolysis. The company acquired REAC's 68 applications, which include 54 national filings.
"REAC's technology package is complementary to Renmatix's already substantial intellectual property investments and expands the footprint of our lowest-cost biomass hydrolysis technology," said Mike Hamilton, CEO of Renmatix. "This acquisition will accelerate the continued development and potential commercialization of REAC's pioneering work, while offering licensees of the Plantrose process additional options for breaking down global biomass resources into renewable materials."
About Renmatix
Renmatix is the leading technology licensor for the conversion of biomass into cellulosic sugar, an enabling feedstock for petroleum alternatives used in the global biochemical and biofuels markets. The company's proprietary Plantrose™ process challenges conventional sugar economics by cheaply converting cellulosic biomass – from wood waste to agricultural residue – into useful, cost-effective sugars. Renmatix's supercritical hydrolysis technology deconstructs non-food biomass an order of magnitude faster than other processes and enhances its cost advantage by using no significant consumables. www.renmatix.com
Contact:
Duncan Cross
Managing Director, International Development
renmatix@missionctrlcommunications.com
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