In Texas, Waste Management and Renmatix announced they have entered into a joint development agreement to explore the feasibility of converting post-consumer waste into affordable, sufficient-quality sugars for manufacturing biobased materials. In addition, WM has joined global chemical giant BASF and Kleiner Perkins Caufield & Byers in Renmatix’s Series C raise, now totaling $75M.
The strategic investment and alliance aims to expand the feedstock flexibility of Renmatix’s proprietary Plantrose process beyond rural biomass to include materials derived from cost-effective and readily available urban waste material such as that managed by Waste Management. Renmatix’s Plantrose process uses “supercritical” water—a state in which water acts as a solvent—to economically and efficiently deconstruct a wide range of non-food plant material in a continuous reaction down to the base sugars that enable a high-volume, low-volatility renewable material.
More background on the story from the Digest
Category: Producer News