Global Bioenergies has received €1.4M in financing from Bpifrance to adapt its isobutene production process to certain specific industrial environments. The company is developing a synthetic biology process to produce isobutene alternatively, from renewable resources.
The loan is interest-free, has a term of seven years and will allow the France-based company to strengthen its leadership in the field of fermentation-derived isobutene, one of the key petrochemical building blocks. Fifteen million tons of isobutene are derived from oil each year and converted into fuels, plastics and elastomers.
Global Bioenergies’ method of converting renewable resources into hydrocarbons through fermentation has already achieved some success. The company produced its first batch of isobutene in a record time, thanks to Cristal Union’s collaboration. The two companies have also formed a joint venture, IBN-One, to build and operate France’s first bio-sourced isobutene production plant.
Marc Delcourt, CEO of Global Bioenergies, said: “It is with this second version of the technology in mind that we have recently created a new subsidiary in Germany named IBN-Two. Its purpose is to gather, from German industrial and financial actors, the funds required to build and operate Germany’s first fermentative isobutene production plant”.