Suntory to add up to US$15 million in additional investment in Anellotech
Anellotech Inc., a US-based sustainable technology company developing cost-competitive renewable chemicals and fuels from non-food biomass, has announced that Japan-based Suntory Holdings Ltd, one of the world’s leading consumer beverage companies, has invested an additional U$9 million in Anellotech’s Bio-TCat technology. This latest tranche, which is part of a new US$15 million package based on Anellotech achieving specific milestones, brings Suntory’s total investment to over US$25 million.
Anellotech’s Bio-TCat process aims to 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, polystyrene, or for renewable transportation fuels.
Anellotech recently announced the completion of the commissioning of its 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 percent bio-based plastics for use in beverage bottles. Suntory currently uses 30 percent plant-derived materials for its Mineral Water Suntory Tennensui brands and is pursuing the development of a 100 percent bio-based PET bottle through this alliance, as part of its commitment to sustainable business practices.
We have made significant progress achieving key milestones in commissioning the TCat-8 pilot plant, and are now ready to begin the next stage of the development program including the production of prototype test samples of renewable biochemicals for ultimate conversion to bio-based plastics. Suntory is a leader in its commitment to environmental sustainability. With its continued investment in Anellotech’s technology, and together with our development partners, we will demonstrate a scalable and cost-effective route to bio-paraxylene production. Our innovative technology will advance the development and commercialization of the world’s first cost-competitive bio-based aromatics production said David Sudolsky, President and CEO of Anellotech.
Reducing environmental footprint
In 2014, the Suntory Group established its Environmental Vision toward 2050 and set targets toward 2020 to provide clear direction to its environmental management based on its corporate tagline “Follow Your Nature.” Suntory is committed to promoting innovative technology solutions to reduce environmental impact through the entire value chain in accordance with its mission – To Create Harmony with People and Nature.
This includes halving the environmental impact generated by Suntory’s business activities by 2050 in such areas as water consumption at company plants, and carbon dioxide (CO2) emission throughout the entire value chain. For plastic bottle containers, Suntory Group aims to replace petroleum-derived raw materials with renewable raw materials as much as possible.
We are very pleased to play an important role in helping Suntory advance its environmental vision as the Bio-TCat technology will help enable Suntory to reduce its use of petroleum-derived packaging and reduce its carbon footprint. Anellotech anticipates that the Bio-TCat Process can produce renewably-sourced aromatic chemicals with a significant reduction in greenhouse gas emissions compared to their identical petroleum-derived counterparts and has end use applications for a range of consumer products, including clothing/textiles, food, and beverage packaging, automobiles, adhesives, coatings, consumer electronics, detergents and tires. We look forward to partnering with innovative consumer product companies and brand owners that are seeking first mover advantage with a renewable technology that offers unique and compelling environmental and cost benefits, especially for benzene-chain bio-plastics which are complementary to Suntory’s interest in p-xylene, ended David Sudolsky.