Anellotech, a Pearl River, NY-based sustainable technology company producing renewable chemicals and fuels from non-food biomass, received a $9m investment.
Japan-based consumer beverage company Suntory Holdings Limited provided the funding, which is part of a new $15m package based on Anellotech achieving specific milestones. This brings Suntory’s total investment in Anellotech to more than $25m to date.
Anellotech’s Bio-TCat Process will produce cost-competitive renewable aromatic chemicals (benzene, toluene and xylenes, “BTX”) from non-food biomass for use in manufacturing plastics such as polyester, nylon, polycarbonate, polystyrene, or for renewable transportation fuels.
Led by David Sudolsky, President and CEO, the company recently announced the completion of the commissioning of its 25 meter tall TCat-8 pilot plant, and has commenced the development program to validate process economics and obtain necessary data for commercial plant design.
The alliance with Suntory began in 2012 with the goal of enabling the development and commercialization of 100% bio-based plastics for use in beverage bottles. The company currently uses 30% plant-derived materials for its Mineral Water Suntory Tennensui brands and is pursuing the development of a 100% bio-based PET bottle through this alliance, as part of its commitment to sustainable business practices.