BP plc (London; www.bp.com) and Arzeda (Seattle, Wash.; www.azeda.com) are pleased to announce they have entered a second extended collaboration agreement for developing a bio-process for production of a renewable chemical of high strategic and industrial interest to BP.
After successful completion of the first phase of the project, the companies have chosen to enter the second phase with the aim to accelerate progress towards commercialization of the target chemical by building on the two companies complementary technologies and core competencies. Arzeda reached a major deliverable in the previous engagement, which set the stage for BP to move to this extended agreement.
Arzeda is excited to again be working with a leading energy and chemical company with a commitment to low-carbon solutions that contribute to a more sustainable future. Bringing to market bio-based products require simultaneous advances in multiple technologies, including the key catalysts, or enzymes. Arzeda’s protein design technology, Archytas™ is uniquely positioned to enable improved enzymes that drive the production of new products with attractive performance and economic value.
Alexandre Zanghellini, Arzeda’s CEO, commented, “A returning partner is a tremendous validation of our technology and the collective effort of the Arzeda and BP teams. We look forward to continue building value for BP and the next equally fruitful collaboration!”