Covation Biomaterials sells its interest in Primient Covation
In Delaware, Covation Biomaterials LLC has agreed to sell its interest in Primient Covation LLC (known as “CovationBio PDO” and “Primient”), the world’s largest producer of 100 percent bio-based 1,3 propanediol (BioPDO). Following the transaction, Primient will continue to supply CovationBio with BioPDO under a long-term supply agreement for the production of partially bio-based Sorona® polymer, used globally as a sustainable solution for the apparel and homegoods industries. Moelis & Company acted as the exclusive financial advisor to CovationBio on this transaction.
Along with this shift, CovationBio is reinforcing its position as a biomaterials leader by driving the next wave of emerging biomaterials as it prepares for commercialization of its latest product, bioPTMEG, in 2026.
Category: Fuels
