Sappi Biotech, a division of Sappi Limited, the global leader in paper, paper pulp and dissolving wood pulp solutions, has acquired Plaxica’s Xylex® and Versalac® technologies. The transaction includes patents, knowhow, equipment, and key technical staff. Commercial terms have not been disclosed.
The acquisition is part of Sappi's efforts to expand its biorefining expertise for further value add to higher value products in its processes.
Plaxica is an Imperial College London spin-out company based on the work of Dr Ed Marshall, formerly a lecturer at the College's Department of Chemistry. The company's technologies enable the use of plant biomass, a sustainable source, in the production of lactic acid and other high-value materials, which can then be used to make biopolymers.
Phil Goodier, CEO of Plaxica, commented:
“This acquisition is an excellent outcome for Plaxica and our technology team. We have been working with Sappi for four years and have already built strong relationships with our new colleagues. All of us look forward to contributing to the successful commercialisation of Xylex® as part of Sappi.”