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Stock impact report

Material World: Spinnova Collaborator Forms Joint Venture With IFF [Yahoo! Finance]

International Flavors & Fragrances, Inc. (IFF) 
Last international flavors & fragrances, inc. earnings: 2/12 04:15 pm Check Earnings Report
US:NYSE Investor Relations: ir.iff.com
Company Research Source: Yahoo! Finance
International Flavors & Fragrances (IFF) and global chemical company Kemira —which previously entered into a long-term collaboration with Spinnova in 2020—have formed a joint venture for the commercial-scale production of renewable biobased materials. More from Sourcing Journal Shuffle Board: Spinnova's New CEO? Chairman of its Board Material World: Lubay Takes the Leap, BioFabricate's Call to Action Material World: H&M's Global Change Award Edition Dubbed Alpha Bio, the venture received an investment of approximately $140 million (130 million euros) to convert up to 44,000 metric tons of plant sugars into bioproducts, with the Alpha Bio facility set to start production in late 2027, seemingly at the IFF's biorefinery in Kotka, Finland. “Operating as an independent entity in Kotka, Finland, the joint venture will manufacture a specific line of products enabled by [Designed Enzymatic Biomaterials] technology for exclusive use by IFF and Kemira,” a company statement reads. Show less Read more
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