In California, Lygos and Flexible Solutions International have agreed to merge in an all-stock transaction.
The two companies have collaborated for four years to use Lygos’ fermentation platform to improve the performance of FSI’s biodegradable, water-soluble cleaning and water treatment solutions. Lygos’s platform uses bioengineering and data science to convert sustainable sugars into multi-functional organic acids.
The companies plan to integrate the two complementary technology platforms, expand the portfolio of multi-functional organic acids, and scale production to meet the increasing demand for sustainable products for agricultural, industrial, and consumer applications. The merger agreement has been unanimously approved by the boards of directors of both companies.
“This combination of Lygos’ sustainable organic acid production capabilities and FSI’s polymer expertise will enable more customers around the world to create sustainable and biodegradable solutions,” said Dan O’Brien, CEO of FSI.
The deal follows a fully funded $160-million investment in Lygos to accelerate integration and scale production to meet increasing demand for agricultural, industrial, and consumer applications.