22 Oct Carduso Capital invests in BioBTX
BioBTX is a company based in Groningen-NL that produces chemicals (Aromatics) from Biomass. This technique allows the manufacturing of ‘green’ plastics.
BTX stands for benzene, toluene and xylene. These chemicals are normally extracted from natural crude oil and form the building blocks for plastics. BioBTX developed a way in which the oil can be replaced by biomass.
Groningen, 24 februari 2017 The Carduso Capital finance will accelerate the scaling up of the technique that already proved itself on lab scale and in test lineups. Frits Kok, fund manager of Carduso says “BioBTX owns a worldwide license on this patented technology and wants to develop it for the usage of a wide range of Biomass. This can be a big step in decreasing independence on crude oil for the production of plastics. BioBTX fits perfect in the regional and technical objectives of Carduso”. Cor Kamminga CEO of BioBTX adds: “after the construction of a pilot plant in Groningen it is the intention to roll out the technology into the market. First step will be the construction of a plant in Emmen, together with our partners Cumapol and SunOil, to produce building blocks for example PET packaging for the cosmetic industry out of Glycerin”.
BioBTX previously received financial support of SNN and of the provinces of Groningen and Drenthe for its development plans. Also witnessed by the grant from the program ‘Groningen@work’ the province of Groningen is pleased with Carduso financing BioBTX: “In BioBTX we recognize a pioneering sustainable technology company. Development of companies in the ‘Green Economy’ is of strategic regional value and can have a stimulating effect on the development of job creation in the northern region” said Deputy of the Province of Groningen Patrick Brouns,
Founding partners of BioBTX in 2012 are the Groningen companies KNN group and Syncom. Both are still co-shareholders in BioBTX. From the beginning, the University of Groningen, through the Chemical Technology Department of professor H.J. Heeres, is involved as scientific partner. By this unique collaboration, BioBTX has not just about a breakthrough technology, but also a highly experienced, enthusiastic and driven team of researchers, product- and process-developers and sufficient entrepreneurship.
For more info on BioBTX: www.biobtx.nl
Carduso Capital is an investment fund based in Groningen that participates in innovative technology companies with strong technological connections with the University of Groningen (RUG) and the University Medical Center Groningen (UMCG) and knowledge institutions within its network. Carduso Capital finds it important to invest in innovative companies that are in the early stage or at some point find funding to continue growing. Carduso Capital supports initiatives within the themes Life Sciences energy and sustainability on the basis of long term cooperation. In addition to financing offers also Carduso Capital management support and the possibility to use a wide international network. Investors in Carduso are: EIF, Investeringsfonds Groningen, NOM, De Friesland Participaties and RUG/UMCG.
For more info on Carduso Capital: www.cardusocapital.com