A King of Prussia company is planning to do its part in protecting the environment by collecting and transforming biowaste into useful materials such as bioplastics, writes Aswin Mannepalli for Philly.com.
With the backing of Microsoft co-founder Bill Gates, who invested $14 million in the company in September, Renmatix is already off to a good start. Gates said that the company could play a significant role in easing climate change by using plants to create industrial fuels and even plastic bottles.
The company also signed deals with oil and chemical giants Total S.A. and BASF which has given it a ready customer base and a global presence. In addition, Renmatix has strengthened its human resources by adding former Pennsylvania governor Mark Schweiker to the team as senior vice president.
The company uses its proprietary Plantrose process to take apart unused biomass waste and transform it into the building blocks that are used to create chemicals and fuels. It is also aiming to replace capital intensive, high pollution petroleum-based processes with its plant based fuel that is quicker to produce, costs less, and is cleaner.
Read more about Renmatix at Philly.com by clicking here.