LONDON (Dec. 4, 2009)—Nordic Investment Bank has signed a loan with Danisco A.S., a Danish biotechnology company, to finance two research and development programs in the company's enzyme division, Genencor.
The loan, totaling about $60 million, will be put toward the production of marketable bio-isoprene for rubber fabrication and cellulosic based bioethanol.
Bio-isoprene will be an alternative to petroleum-derived isoprene. Isoprene is a raw material in rubber products such as tires.
Genencor recently signed an agreement with Goodyear to develop the material for potential use as an ingredient in Goodyear's synthetic rubber manufacturing unit.