Monsanto invests in Biosynthetic Tech and new licensing and supply agreement for bio-lubricants
In Kansas, Monsanto and Biosynthetic Technologies announced license and supply agreements that expand the market opportunity for Vistive Gold soybean growers. This arrangement also includes an equity investment by Monsanto in Biosynthetic. Biosynthetic Technologies, in collaboration with USDA scientists, has developed an entirely new class of bio-based synthetic oils that match or exceed the performance characteristics of the highest quality petroleum-based oils currently used in the automotive and industrial lubricant sectors.
The collaboration is intended to create opportunity for use of Monsanto’s Vistive Gold soybean oil in production of biosynthetic lubricant oils. Under the terms of the arrangement, Monsanto has made an equity investment of $7 million in Biosynthetic. In addition to investments from BP Ventures and other investors, will enable Biosynthetic to finish construction of its pilot plant.
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