DSM Venturing, the corporate venturing arm of Dutch chemical major Royal DSM has made an undisclosed investment in US green plastics company Novomer, based in Ithaca, New York, in a financing round that also included Flagship Ventures and Physic Ventures

Chemistry and Industry, Jan 14, 2008

DSM Venturing, the corporate venturing arm of Dutch chemical major Royal DSM has made an undisclosed investment in US green plastics company Novomer, based in Ithaca, New York, in a financing round that also included Flagship Ventures and Physic Ventures. DSM and Novomer are also signing a cooperation agreement covering Novomer's development of its technology platform to use C[O.sub.2] to produce performance polymers, plastics and other chemicals.

Novomer was founded in 2004 by technology commercialisation firm KensaGroup, Geoffrey Coates and Scott Allen based on catalysts developed at Cornell University, Ithaca, New York, US.