Deinove wins €200K first phase of Worldwide Innovation Challenge for its R&D program
In France, Deinove has won the first phase of the second edition of the Worldwide Innovation Challenge for its R&D program Deinoplast (biobased production of muconic acid) and will be allocated accordingly a subsidy of €200,000.
70% of this amount has already been paid to the Company. The World Innovation Competition was initiated by the French government in 2013 to allow the emergence of innovative projects in strategic sectors in France. The Deinoplast program develops a process for producing muconic acid from plant raw material. Muconic acid is a chemical molecule whose derivatives – caprolactam, terephthalic acid, and adipic acid – are widely used in the plastics industries (in particular, automobile and packaging), and for the production of fibers for textile or industry (mainly nylon), and food (acidifying).
“We are extremely proud to have been selected by the Worldwide Innovation Challenge as a promising project for France. This award is recognition of the quality of our technology platform. It confirms our ambition to develop more responsible and sustainable production methods for various compounds and ingredients used in the formulation of everyday products,” says Emmanuel Petior, CEO of Deinove. “We are grateful for the support we receive from the State for our projects.”
The Worldwide Innovation Challenge is organized jointly by the Directorate General for Enterprise, the “Innovation 2030” Commission, and the General Investment Commission. It is part of the “Invest for the Future” programme and relies on Bpifrance.
Category: Fuels
