MINNEAPOLIS and BOULDER, Colo., April 29, 2015 /PRNewswire/ -- Cargill has acquired Colorado-based OPX Biotechnologies' proprietary fermentation-based processes and systems. These technologies are used to produce bio-based chemicals from sugars for use in non-food applications such as lubricants, detergents, plastics, agrichemicals and personal care products.
Cargill is already a large supplier of carbohydrates and other biotech offerings. This acquisition further expands its presence in commercial fermentation products outside of food and feed.
"Our customers that make products in any of these categories will benefit from this technology acquisition because it will enable us to produce more and better solutions for them than they can get from any other company," said Cargill Corn Milling vice president, Brian Silvey. "It will also make bio-based products with extensive functionality more readily available than ingredients produced using petroleum-based or tropical oils."
OPXBIO will support the transition to Cargill over the coming months.
"This sale of OPXBIO's technology to Cargill demonstrates the great progress OPXBIO has made towards product commercialization," said Mike Rosenberg, CEO of OPXBIO. "Cargill has all the right capabilities and experience to deliver products produced from OPXBIO's technology to customers." DecisionPoint Advisors acted as advisor to OPXBIO for this transaction.
Cargill provides food, agriculture, financial and industrial products and services to the world. Together with farmers, customers, governments and communities, we help people thrive by applying our insights and 150 years of experience. We have 152,000 employees in 67 countries who are committed to feeding the world in a responsible way, reducing environmental impact and improving the communities where we live and work. For more information, visit Cargill.com and our News Center.
OPX Biotechnologies (OPXBIO) is a leader in sustainably transforming the business of chemistry. As the "Good Chemistry" company, OPXBIO provides more sustainable value to customers by applying its proprietary EDGE ™ (Efficiency Directed Genome Engineering) technology to produce economic, bio-based chemicals. OPXBIO's EDGE is versatile and enables faster, more efficient development of bioprocesses using a variety of feedstocks. For more information, visit www.opxbio.com.