Clariant Focusing on Funding for Biotechnology Projects
Clariant AG is preparing to be in bed with a partner to help raise funding for its second generation bioethanol plant. The purpose is to prove the effectiveness of its biotechnology to be able to compete with industry giants Royal DSM NV and Novozymes A/S.
The Muttenz, Switzerland based Clariant is now undertaking tests on its own technology that converts crop waste into biofuel at its research center located in Munich. According to Clariant CFO Patrick Jany said that the results 'look very good' during a telephone interview.
Jany added, "We're now indeed reflecting on how to commercialize the technology with a partner."
The company has just completed restructuring to allow the firm to expand into profit oriented products and leverage research and technology material it had inherited after the US$2.5 billion purchase by Sued-Chemie in 2011.
Jany said that business unit leaders are being encouraged to find research opportunities as well as cost cutting ones. He adds that there will be a 'progressive' introduction of new products into the market for the next few years.