GFBiochemicals Ltd. (Milan, Italy; www.gfbiochemicals.com) acquires assets and intellectual properties of Segetis, the main producer of levulinic acid derivatives in the U.S.
The acquisition allows GFBiochemicals to become a producer of a wide range of bio-based products using levulinic acid. The acquisition is part of the company’s strategic plan to establish a direct presence in the U.S.under GFBiochemicals Americas.
Segetis brings unique knowhow and expertise, including over 250 patents applications worldwide. The acquisition includes Segetis’ production plant based in Minnesota.
Marcel van Berkel, Chief Commercial Officer of GFBiochemicals, commented: “Levulinic acid is a 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 and biopolymers, personal care, household and industrial cleaners, agrochemicals formulations and coatings.