Home About Articles Industry giants British Petroleum and Royal DSM back IGB startup Verdezyne

Industry giants British Petroleum and Royal DSM back IGB startup Verdezyne

(Adapted from an article by Jeff St. John http://gigaom.com/author/jeffstjohn/)

Verdezyne Inc., a synthetic biology company that genetically engineers yeast that eat plant sugars and excrete biofuels and biochemicals, has just landed an undisclosed equity investment from British oil giant BP and Dutch biochemicals company Royal DSM. Mark this news down as another biotech-based startup teaming up with the industry incumbents to facilitate commercialization of their green fuels and bio-chemicals.

The undisclosed round will fund the Carlsbad, Calif.-based startup’s operations through the next few years, as well as help it build two pilot plants to churn out both ethanol and adipic acid, a precursor to nylon and other polymers, Previous VC investors, Monitor Ventures and OVP Venture Partners, also took part in the new round. Read more here.