GBL and Butylfuel to merge
GBL has announced it is to merge with Butylfuel.
Business negotiations may have been used by Green Biologics Limited (GBL), a biotechnology firm from the UK, as it has announced it is to merge with US-based biofuel and renewable chemicals company Butylfuel.
The new enterprise will be headquartered in the town of Abingdon, Oxfordshire, while continuing to trade under the GBL name.
Chief executive officer of the combined group Sean Sutcliffe said the merger "represents a transformational deal for both companies".
It will enable the corporation to combine the commercialisation expertise of GBL in Brazil, India and China and its "acknowledged technology leadership", with the capabilities shown by Butylfuel in North America regarding the building of business, he added.
GBL will now focus on the creation of fuels from agricultural by-products, waste and renewable feedstocks.
The company was nominated in the Bloomberg New Energy Finance Pioneer program as a 2011 New Energy Pioneer alongside nine other enterprises during the fourth yearly Bloomberg New Energy Finance Summit held in New York.
Posted by Ron Maverick
Source: GBL press release, January 20th