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05/22/2009 06:05 AM
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LS9, Procter&Gamble Launch Partnership
SustainableBusiness.com News
LS9, Inc., announced a strategic partnership with Procter and Gamble (NYSE: PG), one of world's largest consumer products companies.
This new partnership supports the joint development and commercialization of LS9 technology to produce chemicals used within the P&G portfolio of consumer products.
Financial terms of the partnership were not disclosed
LS9, which calls itself the Renewable Petroleum Company, is an industrial biotechnology company pursuing the commercial development of
renewable fuels and sustainable chemicals.
LS9 is applying synthetic
biology to produce proprietary biofuels that are compatible with
existing fuel distribution infrastructure, as well as high-value
industrial chemicals.
“Basically what LS9 has is a technology platform in which we have created designer microbes that convert renewable materials into transportation fuels and chemicals,” said LS9’s Director of External Affairs Jon Ballesteros.
The San Francisco-based company was founded in 2005 and
venture capital firms Flagship Ventures, Khosla Ventures, and
Lightspeed Venture Partners have provided funding to date.
The partnership includes a multi-year collaboration that will accelerate the adoption of LS9's proprietary technology in the production of a broad portfolio of commercial products--including chemicals and renewable transportation fuels.
"P&G is an ideal partner for LS9," said Bill Haywood, CEO of LS9. "By joining LS9's technology with P&G's market reach, the partnership will accelerate the delivery of sustainable, low-carbon, high-value chemical products into the world market."
Website: www.ls9.com
