Renewable Energy Group completes sale of REG Life Sciences' assets to Genomatica
Published by John Williams,
Editorial Assistant
Energy Global,
Renewable Energy Group, Inc. has announced that it completed the sale of substantially all assets of REG Life Sciences’ to Genomatica on 2 May 2019.
“We are pleased to be selling our Life Sciences’ assets to Genomatica, who are well positioned to build upon the technical progress we have made, and to advance the team and the technology through to commercialisation,” said REG’s CEO Cynthia Warner. “As we focus on our core strategies to grow our fuel business, this deal allows the technology to develop with a new owner while we retain the opportunity to participate in the successful commercialisation of the technology in the future.”
REG acquired the Life Sciences business in 2014. Since then the team has developed the technology development over several years including through key strategic partnerships with Exxon Mobil and Clariant. Many of the REG Life Sciences team members will join Genomatica at its San Diego Innovation Centre.
“Consumer demand for sustainable products continues to grow, and successful companies will increasingly switch to ingredients that reduce harm to the environment and work with partners with shared values,” said Christophe Schilling, Genomatica’s CEO. “This acquisition adds powerful technology and talent to help Genomatica enhance the sustainability of everyday products.”
Read the article online at: https://www.energyglobal.com/bioenergy/04072019/renewable-energy-group-completes-sale-of-reg-life-sciences-assets-to-genomatica/
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