Heerlen, the Netherlands - DSM Venturing, the corporate venturing unit of Royal DSM NV, has made an equity investment in 'green' chemistry company Segetis Inc., a 7 Jan DSM statement said. Details of the investment were not disclosed.
Based in Golden Valley, Minnesota, Segetis produces bio-chemicals chemicals used in polyurethane applications. The company, which opened a 113 tonnes per annum semi-works production facility in Minnesota in February 2009, produces chemical building blocks or monomers called levulinic ketals which can be used as replacements for petrochemicals such as polyols for polyurethane.
DSM Venturing, which is joined by Khosla Ventures and the Malaysian Life Sciences Capital Fund in the Segetis investment, is aiming to develop bio-based performance materials to meet customers needs for "improved performance and environmental benefits at competitive costs," the statement said.
"Segetis' technology platform perfectly fits our vision to increase functionality of materials through sustainable chemistry," said Babette Petterson, vice president New Business Development for DSM's Performance Materials Cluster. "We look forward to combining the knowledge of both companies to develop bio performance materials that offer both novel functionality and reduced carbon footprint," she added. (RD)