A new generation of renewable-chemical startups are beginning to make impact in the global chemicals market worth some U$3 trillion, according to John Quealy, analyst with Canaccord Genuity. The US chemical industry contributes nearly $720 billion annually to the economy. Most of that production is in petrochemicals, which consumes 24 % of the economy’s crude oil, according to the Department of Energy. Volatile oil prices are helping to foster biochemical start-ups and rising stars like Gevo and Solazyme to make inroads on their well-established competition. Solazyme makes biobased “crude” oil and oil products from algae, while Gevo is producing biobased… Login to continue

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