Global Bioenergies achieves milestone in bio-isobutene program, triggering licensing negotiations

November 4, 2013 |

In France, Global Bioenergies announced that they have achieved a major milestone with a large US-based industrial group, with whom Global hand signed a license option agreement in December of 2010. According to the terms of this agreement, a license option was granted to the industrialist for a maximum of three years. If, during these three years, a specific technical milestone in the development of the isobutene program was hit by Global Bioenergies, the industrialist could trigger entering into an exclusive negotiation period for a follow-on contract on a specific application of Global Bioenergies’ bio-isobutene process. As Global reached the milestone, it’s partner has decided to enter into negotiations as per the agreement. The partner has not been named.

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