Verenium Corporation was a San Diego, California-based industrial biotechnology company founded in 2007 as the result of a merger between Diversa (San Diego) and Celunol (Cambridge, MA).[2][3] The company specialized in research and development for the production of high performance enzymes used in industrial applications, including biofuel generation, hydraulic fracturing.[3][4] Verenium was acquired by BASF corporation in 2013.[3] The company's tailored enzymes are environmentally friendly, making products and processes greener and more cost-effective for industries including the global food and fuel markets.
 | |
| Company type | Public Company (Nasdaq: VRNM) [1] |
|---|---|
| Industry | Industrial Biotechnology |
| Founded | 2007 |
| Headquarters | San Diego, California |
Key people | James Levine (President & CEO), Janet Roemer (COO), Jeff Black (CFO) |
| Products | Enzymes |
Number of employees | 130 |
| Website | www.verenium.com |
Using proprietary and patented genomic technologies, BASF extracts microbial DNA directly from collected samples to avoid the slow and often impossible task of growing microbes in the laboratory.[5] BASF then mines its collection of microbial genes, numbering in the billions, using high-throughput screening technologies designed to identify unique enzymes as product candidates.[5] As required, these enzymes can then be further optimized for commercial use through the company's patented DirectEvolution technologies. By combining discovery and laboratory evolution technologies, Verenium successfully developed and commercialized a suite of highly differentiated enzyme products tailored to meet the specific needs of companies in various markets, including grain processing, biofuels, animal health and nutrition and other industries.[6] These enzymes products are now offered by BASF.
On September 20, 2013, Verenium entered an agreement to be acquired by BASF, with a 71% acquisition of Verenium.[1][7]
See also
editReferences
edit- ^ a b Logan, Rob (December 8, 2017). "Verenium (VRNM) vs. Trecora Resources (NYSE:TREC) Critical Analysis". The Ledger Gazette. Retrieved December 10, 2017.
- ^ "Diversa and Celunol Complete Merger to Create Verenium Corporation". Biospace. June 20, 2007.
- ^ a b c Bigelow, Bruce V. (24 Sep 2013). "Aiming for Chartbuster, Germany's BASF Acquires San Diego's Verenium". Xconomy. San Diego, California, USA. Retrieved 9 Apr 2018.
- ^ Runge, W. (2014). Technology Entrepreneurship : A Treatise on Entrepreneurs and Entrepreneurship for and in Technology Ventures. Vol 1 und Vol 2.:. KIT Scientific Publishing. p. 968. ISBN 978-3-7315-0107-7. Retrieved December 10, 2017.
- ^ a b Arico, S. (2015). Ocean Sustainability in the 21st Century. Cambridge University Press. p. 207. ISBN 978-1-316-30077-0. Retrieved December 10, 2017.
- ^ Petroleum Review. Institute of Petroleum. 2008. p. 293. Retrieved December 10, 2017.
- ^ "BASF announces cash offer to acquire specialized enzyme biotechnology company Verenium". BASF. 20 September 2013. Retrieved 21 September 2013.