Cobalt Technologies announced yesterday that White Plains-based agribusiness and food company Bunge Global Innovation L.L.C. will become a strategic investor in the company.
Cobalt, based out of California, is a developer of bio-based chemicals, while Bunge  buys, sells, and produces food, oils and fertilizers for different industries. Cobalt plans to operate a pilot plant demonstrating the production of n-butanol using sugarcane bagasse as feedstock at its laboratory in Campinas, Brazil. N-butanol is a widely used industrial chemical found in paints, lacquers and other surface coatings.
“Cobalt’s promising technology presents the opportunity to leverage Bunge’s sugarcane processing assets to produce new high-value products that diversify our revenue streams and enhance returns,” said Ben Pearcy, managing director, sugar & bioenergy and chief development officer of Bunge Limited.
