In Alberta, Canada, Flexible Solutions International, Inc. has announced the termination of its planned merger with Lygos Inc.
FSI did not offer an explanation but did say in a press statement that the two companies “remain committed” to finding routes to sustainable aspartic acid and the myriad sustainable and biodegradable products that can be made from aspartic acid. “Neither FSI nor Lygos will let the termination of the merger agreement prevent them from working together in other ways to achieve the goal of sustainable aspartic acid,” FSI adds.
The two companies first announced their all-stock merger in April. They 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 technology uses bioengineering and data science to convert sustainable sugars into multi-functional organic acids, including aspartic acid.