BioFuels Journal

Madison, WI - September 6, 2016 - Virent and Tesoro announce today they have reached an agreement for Tesoro to become Virent’s new strategic owner.

The acquisition will support the scale up and commercialization of Virent’s BioForming® technology for the production of low carbon bio-based fuels and chemicals.

As a result of the acquisition, Virent will become a wholly owned subsidiary of Tesoro and remain in Madison, Wisconsin.

The companies initiated a strategic relationship in January 2016, and have worked together to establish a forward plan to scale-up the technology and reduce deployment risks to meet the increasing demands for high quality, renewable fuels and chemicals.

“The Tesoro announcement is a critical milestone for Virent to establish a pathway to commercialization with a recognized leader in refining, marketing and logistics.

While we will maintain our entrepreneurial spirit and culture, Virent will also benefit from the strategic support and capability of Tesoro, capturing the best of both companies,” said Lee Edwards, Virent CEO.

“We are excited to start the next phase of work with Tesoro, along with our other strategic partners.”

For more information, please contact Shelly Norris at 608-210-3365 or [email protected]

See Related Websites/Articles:

• Virent
• Tesoro

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