The acquisition allows GFBiochemicals to become a producer of a wide range of bio-based products using levulinic acid and is part of the company’s strategic plan to establish a direct presence in USA as GFBiochemicals Americas.
By acquiring Segetis, GFBiochemicals gains a solid expertise, including over 250 patents applications worldwide and a production plant based in Minnesota (USA).
Founded in 2008, the company has a unique set of proprietary technologies that allow levulinic acid and formic acid production with a one-step process directly from a wide range of cellulosic feedstock.
Levulinic acid is a platform chemical with significant potential to replace petroleum-based products in the chemical and biofuel sectors plus plastics and food preservatives. Segetis has been using its chemicals in plastics, perfumes and detergents.
Marcel van Berkel, Chief Commercial Officer of GFBiochemicals commented: “Levulinic acid is one of the world’s most versatile building blocks for substituting oil-based products. With the acquisition of the Segetis assets and IP, including the Javelin™ brand of levulinic ketals technology, we can accelerate market entry for levulinic acid and its derivatives.” Segetis is a premium levulinic acid derivatives producer with several proprietary applications – including fragrances, plasticizers for PVC & biopolymers, personal care, household & industrial cleaners, agrochemicals formulations and coating / adhesive strippers industries – coming from years of research and market development.This acquisition marks an important transformational moment for GFBiochemicals and the beginning of growth strategy. The Company will continue on a development path based on both organic growth, via the creation of high-value partnerships with major companies, and further acquisitions of levulinic acid’s derivative technologies”.
GFBiochemicals has an international presence employing more than 50 people with headquarters in Milan, Italy, R&D and commercial office in Geleen, The Netherlands and production sites in Caserta, Italy and now Minnesota, USA.