Global Bioenergies lands €1.4M in new financing for its isobutene projects
In France, Global Bioenergies obtained €1.4M in new financing from Bpifrance on the Isobutene program, via a “Zero Percent Interest Innovation Loan” (Pret a Taux Zero Innovation) from Bpifrance to adapt its isobutene process to certain specific industrial environments. This financing, which allows Global Bioenergies to strengthen its leadership in the field of fermentative isobutene, is structured in the form of a 1.4 million euro interest free loan over seven years.
Fifteen million tons of isobutene are derived from oil each year and converted into fuels, plastics and elastomers. Global Bioenergies is developing a synthetic biology process to produce isobutene alternatively, from renewable resources (sugar, cereals and agricultural or forestry waste).
Marc Delcourt, CEO of Global Bioenergies declares: “It is with this second version of the technology in mind that we have recently created a new subsidiary in Germany named IBN-Two. Its purpose is to gather, from German industrial and financial actors, the funds required to build and operate Germany’s first fermentative isobutene production plant”.
Category: Fuels
