- GFBiochemicals acquires assets and intellectual properties of Segetis, the main levulinic acid derivatives producer in the US market, including over 250 patents.
- The acquisition allows GFBiochemicals to become a producer of a wide range of bio-based products using levulinic acid.
- The acquisition is part of the company’s strategic plan to establish a direct presence in USA under GFBiochemicals Americas.
Washington D.C., 19 February 2016 – GFBiochemicals, the largest producer of levulinic acid directly from biomass and at an industrial scale, acquires the assets and intellectual property of Segetis, the main levulinic acid derivatives producer in the US market.
Segetis brings unique knowhow and expertise, including over 250 patents applications worldwide. The company has acquired Segetis’ production plant based in Minnesota (USA), and will establish a direct presence in the US market under GFBiochemicals Americas.
Marcel van Berkel, Chief Commercial Officer of GFBiochemicals, commented: “Levulinic acid is one of the world’s most versatile building blocks for substituting oil-based products. With the acquisition of the Segetis assets and IP, including the Javelin™ brand of levulinic ketals technology, we can accelerate market entry for levulinic acid and its derivatives.”
Segetis is a premium levulinic acid derivatives producer with several proprietary applications – including fragrances, plasticizers for PVC & biopolymers, personal care, household & industrial cleaners, agrochemicals formulations and coating / adhesive strippers industries – coming from years of research and market development.
Marcel van Berkel, Chief Commercial Officer of GFBiochemicals, continued: “This acquisition marks an important transformational moment for GFBiochemicals and the beginning of growth strategy. The Company will continue on a development path based on both organic growth via the creation of high-value partnerships with major companies, as well as the potential for further acquisitions of levulinic acid’s derivative technologies”.
GFBiochemicals is the largest producer at a global level of levulinic acid at commercial scale directly from biomass. The company has a unique set of proprietary technologies that allow levulinic acid and formic acid production with a one-step process directly from a wide range of cellulosic feedstock. GFBiochemicals has an international presence employing more than 50 people with headquarters in Milan, Italy, R&D and commercial office in Geleen, The Netherlands and production sites in: Caserta, Italy and Minnesota, USA.