Novozymes joins Nidus Partners to advance new energy technologies
On Sept. 6 Nidus Partners LP announced that Denmark-based Novozymes has joined Nidus as a corporate partner. Novozymes will collaborate with Nidus and its other partners Bunge Ltd. and Monsanto Co. to select and develop early-stage energy technologies.
“The investment and participation of Novozymes, a recognized world leader in bioinnovation, is another major milestone for Nidus,” stated Nidus Managing Partner Vicki Gonzalez. “This deal further confirms our unique approach in leveraging our partners’ strategic market insight to efficiently select and derisk early-stage energy technologies.”
Launched September 2010, Nidus takes a novel approach to commercialization by using its partners to identify market opportunities and experienced entrepreneurs to find and develop technologies that address these market needs. To date, Nidus has reviewed hundreds of technologies resulting in three start-ups: Electrochaea LLC, Six Convert LLC and Xtend Energy.
“Novozymes sees Nidus as a unique collaboration to identify and build the business case for novel energy technologies,” said Steen Skjold-Jorgensen, Novozymes vice president of research and development. “The experienced entrepreneurial partners in Nidus provide a professional approach to maturing early-stage energy technologies. This partnership is a natural enhancement to our own exploratory activities. “
Partners have a right of first offer for the innovations developed through Nidus. A limited number of additional partners with the appropriate market and technical expertise will be invited to participate in the partnership.
“Nidus has created a unique forum where companies that would not necessarily work together share expertise and collaborate,” said Miguel Oliveira, director of global innovation at Bunge. “That means when we select and advance early-stage energy technologies, we share our expertise, market knowledge and strategic vision, thus creating a more synergistic and complementary view of the value such opportunity could create for our companies.”
Nidus currently screens dozens of technologies each year, selecting a very small percentage for commercialization. Those chosen meet a market need have potential for a strong intellectual property position and a principal investigator that is willing to collaborate to commercialize the technology.
Examples of Nidus companies include Electrochaea, a renewable natural gas technology that converts waste carbon dioxide from existing manufacturing and stranded electric power into methane, the main component for natural gas; and Xtend Energy, a manufacturer of ultra-high-performance Lithium-ion battery cathode materials that will help address the issues of cost and performance for electric vehicle batteries.