Renmatix Turns Biowaste into Plastic. Can the King of Prussia Firm Help Save the Planet?
by Aswin Mannepalli (Philadelphia Inquirer) The King of Prussia company takes biowaste and converts it into useful materials such as bioplastics. So far, it counts Microsoft cofounder Bill Gates as a backer. He led a $14 million investment in the firm in September, saying Renmatix could help ease climate change by creating industrial fuels and even plastic bottles from plants.
Renmatix also notched deals with oil and chemical giants Total S.A. and BASF that secured a customer base and gave it a global presence.
Its proprietary Plantrose process takes apart unused biomass waste and converts it into the nonfood organic sugars that are building blocks for chemicals and fuels.
While traditional firms rely on capital-intensive petroleum-based processes that can be highly polluting, Renmatix hopes to make fuels faster, cheaper, and cleaner by using plants.
The company, founded in 2007, has 80 full-time employees and operations in Pennsylvania, Georgia, and New York. Renmatix holds that Pennsylvania, especially the Philadelphia area, is an ideal location, given its proximity to universities and biobusinesses. READ MORE