BASF invests $13.5M in Allylix; bio-based flavors and fragrances are first targets

In California, BASF Venture Capital GmbH has invested $13.5 million in Allylix Inc., a U.S.-based renewable chemicals company. The BASF subsidiary led a $18.2 million financing round, joined by existing investors Tate & Lyle Ventures, Avrio Ventures and Cultivian Ventures.

Allylix is developing Epivone (epi-beta-vetivone), a terpene that will initially be commercialized for use in fragrance applications. Revenue for similar terpene molecules used in fragrance applications is estimated between $20 and $200 million dollars per year.

Epivone is structurally related to beta-vetivone, one of the key components of vetiver oil, an essential oil with a rich, woody aroma. Allylix has a platform to produce a wide variety of terpenes and their derivatives, for the flavor and fragrance, food ingredients, cosmetics and other markets.