03 Jan 2008 - DSM Venturing, the corporate venturing unit of Royal DSM N.V., announced that it has made an investment in Novomer Inc. The companies also plan to sign a cooperation agreement. Financial details of the investment will not be disclosed.
Novomer is developing a technology platform to use carbon dioxide and other renewable materials to produce performance polymers, plastics and other chemicals. The company's products combine environmental benefits with improved materials performance and can be used in a range of applications, from injection molded parts for electronics to paper coatings and medical implants.
DSM Venturing joins Flagship Ventures and Physic Ventures in this financing round. In addition to the investment DSM and Novomer also intend to sign a cooperation agreement. Both the investment and cooperation agreement will support DSM's ambitions to develop bio-based performance polymers to meet customers' growing needs for improved materials performance and environmental benefits at competitive costs.
Novomer is developing a technology platform to use carbon dioxide and other renewable materials to produce performance polymers, plastics and other chemicals. The company's products combine environmental benefits with improved materials performance and can be used in a range of applications, from injection molded parts for electronics to paper coatings and medical implants.
DSM Venturing joins Flagship Ventures and Physic Ventures in this financing round. In addition to the investment DSM and Novomer also intend to sign a cooperation agreement. Both the investment and cooperation agreement will support DSM's ambitions to develop bio-based performance polymers to meet customers' growing needs for improved materials performance and environmental benefits at competitive costs.
