Vnesheconombank, Bright Capital and Renmatix sign MOU

In the Russian Federation, Vnesheconombank, venture capital firm Bright Capital Management, and Renmatix signed a Memorandum of Understanding to jointly consider mutually beneficial relationships, potential collaboration and investment in the biochemical and biofuels industries. Under the MOU, the companies are looking to work to pursue the development of a series of industrial plants that will produce cellulosic sugar from woody biomass, with near-term end markets serving cellulosic ethanol demand in Europe, by leveraging Renmatix’s proprietary Plantrose technology. The total amount of potential investment is up to approximately 750 million USD.

Tags: British Capital Managment, Russian Federation, Vnesheconombank

Category: International