Next-gen biofuel and biochemical companies Genomatica and Mascoma have filed notices recently indicating that they plan to go public some time soon. But how are the other next-gen biofuel companies that have gone public in recent months now faring on the stock market? Mostly down.
Biofuel and biochemical startup Verdezyne lands investment from British oil giant BP and Dutch biochemicals company DSM — yet another biotech startup teaming up with big boys to bring green fuels and chemicals to bigger scale.
Amyris has opened its first industrial scale facility to turn sugarcane syrup into Biofene, a form of the industrial chemical farnesene, which is a fragrant hydrocarbon that’s used to make cosmetics and lubricants. It’s a big step, though not quite yet to commercial-scale biofuel production.
The CEO of biocatalyst company Codexis — Alan Shaw — has a message for the U.S. government and more specifically the Department of Energy: Don’t act like a venture capitalist. Shaw thinks the best endorsement is if a real company has endorsed a technology.
Biofuel startup Gevo has lowered its upcoming IPO to $13 to $15 per share. That’s about $100 million, or $89 million after fees, less than the $150 million it targeted in August, but close to what analysts have predicted.
Grab your biofuel startups fast, Lux Research says — the field of contenders with game-changing technologies for turning non-food feedstocks into useful hydrocarbons is getting sparser by the minute. The report sees Big Oil and consumer products conglomerates quickly winnowing the field of the best technologies.
The headwinds were too much for First Wind. The Boston-based wind farm developer canceled its IPO this morning, one day after it dropped its per-share price range to $18 to $20 down from $24 to $26. The company cited unfavorable market conditions, but analysts noted it had losses of $233 million and outstanding debt of $582.2 million as of the end of September, putting it at risk of default. First Wind joins a list of canceled greentech IPOs so far this year, including thin-film solar module maker Solyndra and China’s Trony Solar. In First Wind’s case, it also has to fight headwinds in its domestic market — Bloomberg New Energy Finance reports that 2010 U.S. wind power installations are expected to fall 39 percent compared to 2009.
Joule Unlimited, a startup that promises to genetically engineer an organism that eats CO2 and produces a drop-in diesel fuel, has landed a patent on its “recombinant biosynthesis” technology.
Aurora Biofuels announced Monday that it has changed its name to Aurora Algae, in hopes of finding commercial markets today in turning algae into nutrients and protein products. It’s not exactly a vote of confidence for the idea of turning algae into biofuel.
Dutch oil giant Shell and Brazilian ethanol giant Cosan sealed the deal Wednesday on a $12 billion joint venture to turn sugarcane into pump-ready fuel. How will the massive partnership affect Codexis, Shell’s biocatalyst partner and recent entrant to the public markets?