Stora Enso signs joint technology development and license agreement with Rennovia
Finland-based forest industry major Stora Enso and US-based specialty chemicals company Rennovia Inc have announced a joint development and license agreement to cooperate on bio-based chemicals development. Under the terms of the agreement, the two companies will cooperate to develop processes for bio-based chemicals of interest to Stora Enso, employing Rennovia’s high-throughput catalyst discovery infrastructure and process development expertise.
Rennovia focuses on the technology development of novel catalysts and processes for the cost advantaged production of chemicals from renewable feedstocks.
– This agreement underscores the broad applicability of Rennovia’s catalytic technologies to the production of a wide range of bio-based chemical products, said Robert Wedinger, President and CEO of Rennovia.
According to a statement Stora Enso is targeting new markets and developing novel products as it transforms into a renewable materials company. The mission of Stora Enso Biomaterials division is to find new, innovative ways to maximise the value extractable from wood, as well as other kinds of ligno-cellulosic biomass.
– The joint development and technology agreement will accelerate some of the developments Stora Enso is working on and gives us a solid platform to move further in building a portfolio of sustainable bio-based solutions for our customers. We are looking forward to collaborating with Rennovia, said Juan Carlos Bueno, Executive Vice President, Biomaterials division at Stora Enso.