Usually, a licensing agreement opens up the door for companies to prosper in the biotech and biofuels world. But an Alabama-based biotechnology company says it is getting a boost from the end of one of its agreements. Inventure Renewables says the mutual termination of its agreement with Alchimia, Inc. for exclusive licensing rights in North and South America will open up Inventure’s patented process technologies possibilities with American agricultural processors and traditional biodiesel manufacturers.
“We’re really motivated for the rapid expansion the retention of our licensing rights will allow,” said John Brown, Inventure Renewables’ Chief Operating Officer. “The extensive corn and soybean processing facilities in the United States will be obvious partners for Inventure, as our technologies will allow them to convert waste streams into revenue streams by turning low or no value biomass into carbon-neutral biofuels, biochemical and biomaterials. The same opportunities will be present in South America, where vast amounts of soy beans and sugar cane are processed.”
Inventure Renewables is currently negotiating with several leading agricultural processors.