July 25, 2011

Weekly News Roundup

Another renewable-based chemical company, this time based in China, entered the IPO scene. Bio-butanol producer Cathay Industrial Biotech filed an initial public offering with the US Securities and Exchange Commission (SEC) on July 19 aiming to raise up to $200m.

The company plans to list on the NASDAQ under the symbol CBIO. We will post more about the company, which the blog covered before. I'm not sure we can talk to Cathay Industrial Bio's VP Paul Caswell again during its IPO period but I'm sure the S-1 filing will bring a lot of information.

In the meantime, here are this week's news roundup:

Amyris' sugar diesel in Sao Paulo buses
Amyris' subsidiary Amyris Brasil will begin supplying sugarcane-based diesel to 160 city buses in Sao Paulo, Brazil. the buses will run on a blend of 10% renewable diesel starting August. The supply contract runs through the end of 2012. Amyris said it expects to achieve $10-12m in annual diesel sales.

Elevance raises $50m in private offering
Elevance Renewable Sciences has raised $50m in private offering as reported in a filing with the US Securities and Exchange Commission. The company declined to say what it plans to do with the money.

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