Anellotech, a Pearl River, NY-based proprietary thermal catalytic biomass conversion technology company, received an equity investment of $1.5m from a new, confidential strategic investor.
The new investor has joined existing partners Axens, IFP Energies nouvelles (IFPEN), Johnson Matthey, Suntory and Toyota Tsusho.
Led by David Sudolsky, President & CEO, Anellotech develops proprietary thermal catalytic biomass conversion technology (“Bio-TCat®”) for producing aromatics (now made from petroleum), including paraxylene and benzene, from non-food biomass.
The development of 100% bio-based aromatics will meet consumer demand for plastic products, children’s toys, laundry detergent and food and beverage packaging made from sustainable sources.
The company will use the funds to continue to develop its technology. In details, the funds will be used for the Bio-TCat R&D program, at the forefront of which is the TCat-8 development and testing facility, where commissioning activities began on September 1, 2016.
This 25 meter-tall unit is designed to confirm the viability and suitability of the Bio-TCat process for scale up, and generate the data needed to design commercial plants, planned for the end of this decade.
The TCat-8 unit was jointly designed by Anellotech and its R&D partner IFPEN, and will use a novel catalyst under joint development by Anellotech and Johnson Matthey. Three technical experts from Anellotech partner IFPEN are now on site where they will be working side-by-side with Anellotech engineers for the next two years.
FinSMEs
06/10/2016