Rennovia: Biofuels Digest’s 2014 5-Minute Guide

Rennovia, Inc. is a chemical process technology development company focused on the creation of novel processes for the cost-advantaged production of commodity and specialty chemicals from renewable feedstocks.  Rennovia’s initial focus is on the development of catalytic process technologies for the production of bio-based adipic acid (AA) and glucaric acid (GA).  Adipic acid, an industrial chemical conventionally derived from petroleum, is a multi-billion dollar global market, with major applications in nylon-6,6 fibers, engineering resins, polyester polyols for polyurethanes, and adipate ester plasticizers.  Glucaric acid is an emerging platform chemical with wide applications in detergent, de-icing, cement, and anti-corrosion markets.

In addition to adipic acid and glucaric acid, Rennovia also is developing process technologies for production of bio-based hexanediol (HDO), a specialty chemical used in acrylate resins and polyurethanes, and hexamethylenediamine (HMD), a multi-billion dollar market component of nylons and specialty polyurethanes. Rennovia has successfully combined its bio-based AA and HMD to produce 100% renewable nylon-6,6.

Major investors:

5AM Ventures, Versant Ventures, ADM

The Situation

The company signed an agreement with Johnson Matthey Davy Technologies (March 2014) on collaboration to develop, demonstrate and commercialize catalytic process technologies for the production of bio-based glucaric acid and adipic acid.

In February, ADM has committed to a $25 million equity investment in Rennovia, which develops catalysts and processes for the cost-advantaged production of chemical products from renewable feedstocks. The company’s first products are nylon intermediates adipic acid and hexamethylenediamine (HMD). ADM’s investment will be used for research and development programs and continuing operations.

3 Top Milestones for 2010‐13

1) Development and demonstration at lab-pilot scale of all unit operations for the conversion of glucose to GA and for the conversion of GA to AA using Rennovia’s catalyst technologies.
2) Successful demonstration of the conversion of fructose to HDO and for the conversion of HDO to HMD production using Rennovia’s catalyst technologies.
3) Establishment of foundational IP portfolio for processes 1) and 2), above

3 Major Milestone Goals for 2014-16

1) Develop licensable technology package enabling commercial production of GA and AA
2) Demonstrate long-term continuous operation at pilot scale for HDO and HMD processes; Establish scale-up and commercialization partnership for HDO and HMD products
3) Initiate first commercial product production

Business Model:

Hybrid owner-operator and technology licensor model.

Competitive Edge:

Use of well-established, scalable catalytic process technologies to produce drop-in chemical products from renewable feedstocks at production costs significantly below conventional petroleum-based processes

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