Biosynthetic Technologies Gets $7M
Irvine-based Biosynthetic Technologies, a firm developing synthetic biomolecules from plant oils, has raised $7M in funding from Monsanto, in addition to other funding from BP Ventures and other investors, the firm said recently. The company--which was part of the OCTANe Launchpad program--said the deal was part of a license and supply agreement between Monsanto and Biosynthetic Technologies. Biosynthetic said its bio-based synthetic oils "match or exceed" the performance characteristics of the highest quality petroleum-based oils currently used in the automotive and industrial lubricant sectors. Biosynthetic technologies is headed by Allen Barbieri, and has also been known as LubriGreen Biosynthetic Oils.
posted on Tuesday, November 13, 2012 (Link to more information)

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