In Illinois, the technology formerly belonging to Coskata has re-merged as the newly-minted Synata Bio, which was formed last year.
Synata filed a Red D form with the Securities & Exchange Commission, detailing a $10 million investment, which sources have identified as coming from True North Venture Partners. Sure enough, True North partners Matthew Ahearn and Steve Kloos are listed as directors of the firm, along with long-time industry scientific guru Jay Kouba, last himself seen running another natgas-oriented business, Trelys, which itself has attracted investment from ARCH Venture Partners and FirstGreen Partners. Kouba has also had roles with Amoco, BP, Metabolix, Virent, Tetravitae, and Siluria. Kloos is currently serving as Synata’s President.
Coskata had been focused, via gas fermentation, on converting natural gas to fuels. We suspect that, given low oil prices, Synata Bio may steer that technology towards attractive opportunities in chemicals. Possibly acetic acid, propanol or n-butanol.
The filing lists the company address as “4575 Weaver Parkway, Suite 100, Warrenville, Il, Illinois, 60555”, which long-time observers will recognize as the former Coskata headquarters. Sources have also told The Digest the as much as “half of the old Coskata scientific staff” have been hired on by Synata Bio to continue the company’s research. Sources also indicated that Synata acquired the Coskata technology.
Category: Producer News