Elevance Renewable Sciences announced its intent to go public by filing an S-1 with the SEC last month. In the process, they hope to raise $100 million to fund continued R&D, capital expansion, and product development. Founded in 2007, Elevance developed from a partnership between Cargill and Materia to couple Cargill’s expertise in agricultural oils and Materia’s expertise in olefin metathesis. The company makes green alternatives to traditional petroleum products made by the olefin metathesis of natural oils and is planning construction of three integrated “biorefineries” with a projected ultimate capacity of 2.2 billion lbs/yr of green chemicals and fuels.
This ambitious application of olefin metathesis definitely deserved a post on All Things Metathesis, but as I looked around, I realized that Jim Lane of Biofuels Digest already did a great job of summarizing the company here. He boils down Elevance’s 200+ page S-1 filing into a short and enjoyable read.
Elevance’s success is a testament to the scalability of metathesis in cost competitive commercial applications, and if things work out as they hope, their IPO will mark a significant advance in the use of renewable feedstocks as petroleum alternatives.