Stora Enso Oyj Acquires Virdia for $62,000,000

Feed Type
Link
http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=1e4bedb2-42ec-4076-8db0-f49b3860cd3d
Date
6/24/2014
Company Name
Virdia
Mailing Address
Undisclosed Redwood City, CA 94065 USA
Company Description
Virdia is a leading developer of cellulosic sugars and lignin for use in the renewable chemicals, bio-energy and nutrition industries. The company’s CASE proprietary process converts a wide range of cellulosic feedstock, including wood, energy crops and agricultural residues into highly refined sugars and lignin.
Website
http://www.virdia.com
Transaction Type
M&A
Transaction Amount
$62,000,000
Transaction Round
Proceeds Purposes
M&A Terms
The upfront debt-free transaction value is approximately USD 33 million (EUR 24 million) with additional potential payouts totalling approximately USD 29 million (EUR 21 million) following completion of specific technical and commercial milestones by 2017.