Barbara Heffner
CHEN PR, Inc.
781-672-3112 bheffner@chenpr.com
NOVOMER NEWS
12/20/07DSM invests in US start-up that makes ‘green’ polymers from CO2
DSM invests in US start-up that makes ‘green’ polymers from CO2
Further exploiting synergy between Life Sciences and Material Sciences activities
DSM Venturing, the corporate venturing unit of Royal DSM N.V., today announced that it has participated in a financing round of Novomer Inc. Novomer is developing a technology platform to use carbon dioxide and other renewable materials to produce performance polymers, plastics and other chemicals. The company’s products combine environmental benefits with improved materials performance and can be used in a range of applications, from injection molded parts for electronics to paper coatings and medical implants. DSM Venturing joins Flagship Ventures and Physic Ventures in this financing round. Next to the investment DSM and Novomer also signed a cooperation agreement. Both the investment and cooperation agreement support DSM’s ambitions to develop bio-based performance polymers to meet customers’ growing needs for improved materials performance and environmental benefits at competitive costs. Furthermore, the cooperation ties in with DSM’s increased focus on exploiting synergy between its Life Sciences and Material Sciences activities.
Novomer’s catalyst technology enables the production of polymeric materials from renewable feedstocks rather than fossil fuels. Their use of feedstocks such as carbon dioxide and carbon monoxide combined with the precision and reliability of synthetic manufacturing processes, is expected to enable the cost-effective manufacture of bio-based building blocks, polymers, compounds and formulations. Babette Pettersen, Vice President New Business Development for DSM’s Performance Materials Cluster: “Novomer’s synthetic catalyst chemistry approach to manufacturing offers great promise for DSM to build on our strengths in both Material Sciences and Life Sciences to accelerate the development of customized, cost-effective bio-based performance materials. The cooperation with Novomer offers DSM a valuable partnership for further developments in the field, which will be broadly applicable to both existing and potential new DSM businesses.”
“Our relationship with DSM Venturing represents an important validation of Novomer’s technology. DSM gives us a major partner in the chemical industry with critical expertise in high-volume production and access to global markets,” said Charles Hamilton, president of Novomer. “In addition, our organizations share a real commitment to sustainability and innovative technology.”
DSM Venturing
DSM Venturing is an active investor in companies and venture capital funds in DSM’s strategic growth fields Nutrition, Pharma and Performance Materials. DSM Venturing's mission is to explore emerging markets and technologies in these strategic growth fields in order to enhance DSM's product portfolio and create value. DSM Venturing also plays an active role in the development of several new DSM business opportunities in the so-called emerging business areas Biomedical, Industrial (White) Biotechnology, Specialty Packaging and Personalized Nutrition. For more information about DSM Venturing see www.dsmventuring.com.
About DSM
DSM creates innovative products and services in Life Sciences and Materials Sciences, contributing to the quality of life. DSM’s products and services are used globally in a wide range of markets and applications, supporting a healthier, more sustainable and enjoyable way of living. End markets include human and animal nutrition and health, personal care, pharmaceuticals, automotive, coatings and paint, electrics & electronics, life protection and housing. The company strategy, Vision 2010 – Building on Strengths, focuses on accelerating profitable and innovative growth of the company’s specialties portfolio. The key drivers of this strategy are market-driven growth and innovation, an increased presence in emerging economies and operational excellence. DSM has annual sales of almost EUR 9 billion and employs some 22,000 people worldwide. The company is headquartered in the Netherlands, with locations in Europe, Asia, the Americas, Africa and Australia.
For more information:
DSM Corporate Communications
Nelleke Barning
tel. +31 (0) 45 5782017
fax +31 (0) 45 5740680
e-mail media.relations@dsm.com
DSM Investor Relations
Hans Vossen
tel. +31 (0) 45 5782864
fax +31 (0) 45 5782595
e-mail investor.relations@dsm.com
About Novomer
Novomer is a revolutionary new materials company pioneering a family of low-cost, high-performance, green plastics, polymers and other chemicals. Founded in 2004 by technology commercialization firm KensaGroup, Dr. Geoffrey Coates and Dr. Scott Allen, the company is based on pioneering catalysts developed at Cornell University. Novomer’s groundbreaking technology allows carbon dioxide and other renewable materials to be cost-effectively transformed into polymers, plastics and other chemicals for a wide variety of industrial markets. The company is partnered with equity investors Flagship Ventures, Physic Ventures, and DSM Venturing and has received support from the National Science Foundation and Department of Energy.