Segetis granted $325K, plans commercial capability

According to the current declaration of Segetis, the company has been awarded with $325,000 under the Next Gen Energy Grant funding by the Dept. of agriculture of Minnesota. Earlier, Segetis also got the fund of $ 21.2 million from IRRRB (Iron Range Resources and Rehabilitation Board). From the account of the Biomass magazine, this fund is to be use for buying operational materials, equipments and capital construction. The pilot plant of the company in Minnesota will be developed with this fund through utilization of optimization process. Know more about the matter here at -http://greenchemicalsblog.com/2014/06/09/segetis-gets-325k-grant-plans-commercial-facility/

According to the report, the company is currently planning for set up of a commercial plant in Hoyt Lakes, Minnesota for the production of levulinic acid with the expected capacity of 35 million pounds of plasticizer. The company is currently receiving levulinic acid from China. Due to lack of the lignocellulosic feedstock, there are not many sources of levulinic acid in the world. The projected pilot plant of Segetis is expected for building within 18 months. With the expected investment of $105 million in set up of this commercial plant, Segetis declares to invest 70 percent of the fund for the project. Levulinic acid is known to be one among the top 12 biobased chemical building blocks.