Helsinki, Finland 10 May 2016 -- (GLOBE NEWSWIRE) -- Under the terms of the agreement, the two companies will cooperate to develop processes for bio-based chemicals of interest to Stora Enso, employing Rennovia's high-throughput catalyst discovery infrastructure and process development expertise. Rennovia focuses on the technology development of novel catalysts and processes for the cost advantaged production of chemicals from renewable feedstocks.
As Stora Enso is targeting new markets and developing novel products as it transforms into a renewable materials company, the agreement is a logical step for the company.
"The joint development and technology agreement will accelerate some of the developments Stora Enso is working on and gives us a solid platform to move further in building a portfolio of sustainable bio-based solutions for our customers. We are looking forward to collaborating with Rennovia," said Juan Carlos Bueno, Executive Vice President, Biomaterials division at Stora Enso.
"This agreement underscores the broad applicability of Rennovia's catalytic technologies to the production of a wide range of bio-based chemical products," said Robert Wedinger, President and CEO of Rennovia. "We are delighted that Stora Enso recognizes our catalyst and process technologies as an efficient, cost-effective platform for producing bio-based chemicals."
About Stora Enso Biomaterials division
Stora Enso Biomaterials division is a provider of pulp grades to meet the demands of various paper, board and tissue producers. The offering also includes fluff for hygiene applications and dissolving pulp for the textile industry. The mission of Stora Enso Biomaterials division is to find new, innovative ways to maximise the value extractable from wood, as well as other kind of ligno-cellulosic biomasses.
Rennovia is a chemical process technology development company focused on the creation of novel processes for the cost advantaged production of commodity and specialty chemicals from renewable feedstocks. For further information, visit www.rennovia.com or e-mail firstname.lastname@example.org.
Stora Enso is a leading provider of renewable solutions in packaging, biomaterials, wooden constructions and paper on global markets. Our aim is to replace fossil based materials by innovating and developing new products and services based on wood and other renewable materials. We employ some 26 000 people in more than 35 countries, and our sales in 2015 were EUR 10.0 billion. Stora Enso shares are listed on Nasdaq Helsinki (STEAV, STERV) and Nasdaq Stockholm (STE A, STE R). In addition, the shares are traded in the USA as ADRs (SEOAY) on the International OTCQX over-the-counter market.