THE WHAT? BASF Venture Capital has announced that it has invested in Bota Biosciences. The Chinese industrial synthetic biotech firm is developing a proprietary next-gen biotech platform which enables sustainable and economical production of high-value products for a broad array of industrial applications.
THE DETAILS Bota Bio will use the investment to expand its development and production capabilities. “In BASF, we have a strong industry partner by our side whose strengths optimally complement our own. We welcome this support in scaling up our processes and launching new products,” said Cheryl Cui, CEO of Bota Bio.
THE WHY? BASF is working on processes that use white biotechnology for the production of chemical building blocks from renewable raw materials and Bota Bio’s expertise in this field will enable the acceleration of product development.
As Markus Solibieda, BVC’s Managing Director attests, “The founding members of Bota Bio have a wealth of experience in the fields of biotechnology and chemistry as well as in starting companies. Bota Bio’s highly innovative platform enables the acceleration of product development and contributes to sustainable and economical production. It has the potential to shape progress for the future of the chemical industry. With our investment in this promising young company, we are strengthening BASF’s activities related to sustainability and enhancing the group’s potential for innovation in the dynamic Asian markets.”