Consumer beverage company Suntory Holdings Limited of Japan has invested an additional $9 million in Bio-TCat technology from Anellotech, a company working toward the production of cost-competitive renewable chemicals and fuels from non-food biomass. This latest tranche, which is part of a new $15 million package based on Anellotech achieving specific milestones, brings Suntory’s total investment in Anellotech to more than $25 million to date.
According to Anellotech, its 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, and polystyrene, or for renewable transportation fuels. Anellotech recently announced the completion of the commissioning of its 25-meter-tall TCat-8 pilot plant and has commenced the critical development program to validate process economics and obtain necessary data for commercial plant design.
The alliance with Suntory, one of Anellotech’s principal strategic investment partners, began in 2012 with the goal of enabling the development and commercialization of cost-competitive 100% bio-based plastics for use in beverage bottles. Suntory 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.
Source: Packaging World - Packaging news, trends & innovations