A Florida biotech company has created a new subsidiary to use sugarcane ethanol for chemical production.

Industrial Biotechnology Corporation has formed Renewable Chemicals Corporation to produce chemicals utilizing sugar cane based ethanol as feedstock source material instead of petroleum.

According to an IBC news release, the company “plans to produce these renewable chemicals customized to the specific sustainability and pricing requirements of the consumer packaging, energy, agricultural, pesticides, materials and polymer industries.”

“There is tremendous market interest for plastics derived from renewable, sustainable sources” says Industrial Biotechnology Corporation CEO Andy Badolato. “Major retailers, consumer product companies, and the packaging and plastics industries are working together to implement solutions to lessen our dependence upon foreign oil and to reduce global warming. The utilization of sugar cane ethanol as a chemical feedstock is the next logical step, after its use as an alternative fuel.”