Consortium formed to commercialize Virent’s bioconversion technology

According to a statement, the Consortium members will work together to finalize technical developments and commercial arrangements, with the objective of delivering a commercial facility to produce cost-effective, bio-based fuels and bio-paraxylene.

This is a critical and innovative approach to address scale-up challenges inherent in the deployment of renewable technologies. We are delighted to share a common vision with a global group of respected industry leaders, recognized for their innovation and commitment to meet the changing needs of their customers who seek more sustainable products and services, said Lee Edwards, CEO, Virent.

The Consortium will connect the key strengths and commercial opportunities of each member, who are all leaders in their sectors with a strong desire to advance competitive sustainable solutions. Each member will bring unique capabilities and resources in support of the primary Consortium objective to develop the first commercial production facility for Virent’s BioForming process.

As announced earlier this month, Tesoro expects to close on the acquisition of Virent by the end of September, and believes that this Consortium will be key to developing a deployment plan for the Virent technology on a commercial scale. We are focused on fostering the development of high-quality, lower-carbon, renewable feedstocks and blendstocks that can either be co-processed in existing refineries or blended seamlessly with traditional fuels, said CJ Warner, EVP of Operations at Tesoro.

Individual members will contribute to that effort through technical and engineering assistance, infrastructure, supply chain support, and/or product off-take commitments. The Consortium will work jointly to develop the scale-up strategy, including the size and location of the first plant, which will be underpinned by fuel and chemical offtake commitments.

Participating in the Consortium offers The Coca-Cola Company a great opportunity to continue evolving our long-standing relationship with Virent and creates a strong pathway to enhance the value proposition for our innovative and well recognized “PlantBottle” packaging program. We are pleased to be part of this extraordinary team, said Michael Knutzen, PlantBottle Global Program Director, The Coca-Cola Company.

Johnson Matthey (JM) and Virent will form a potent technical team to conclude catalyst and process development, as well as the subsequent marketing and licensing of the resulting low carbon fuels and chemicals technology platform.

We are delighted to be contributing our catalyst and engineering experience and capabilities in support of this innovative project which further extends our portfolio of sustainable technologies. The participants in the Consortium provide a concerted combination of competitive advantage in plant operations, process technology, engineering capability, and consumer innovation, said Geoff Otterman Director of Johnson Matthey’s Process Technologies Division.

The combined capabilities and resources of the consortium members will provide significant advantages as the Consortium progresses the technology and commercial deployment. Other parties may join the Consortium over time to compliment the current members and provide further support to the effort.

Toray is focused on contributing to a low carbon society through innovative and sustainable products. Bio-based polymer, in particular 100 percent bio-based polyester products, is one example of our efforts. Toray expects that the Consortium has the necessary technology and resources to accelerate the availability of commercial volumes of 100 percent bio-based polyester, said Hidenori Terai, General Manager, Fibers and Textiles Green Innovation and Life Innovation Business Planning Dept. of Toray Industries, Inc.