Codexis is funded by venture firms and strategic investors such as CMEA, Shell Oil and CTTV, the investment arm of Chevron. It produces biocatalysts that are used in the pharmaceutical industry, but has been engaged in R&D with Shell since 2006 and cut a deal with the oil giant back in November to produce commercially viable biofuels from cellulosic biomass. Other green applications for their biocatalyst include carbon management, water treatment and “green” chemicals.

Codexis' biofuel product is intended to produce commercially viable, cellulose-derived biofuel alternatives to petroleum-based fuels. “Our proven biocatalytic approach should provide the critical pathway to developing economically feasible alternative transportation fuels from renewable resources,” Alan Shaw, Ph.D., Codexis President and Chief Executive Officer, said back in November. “We are pleased to be partnering with Shell, a world leader in energy, to undertake this important effort.”

Codexis applies its platform technology to customise proprietary biocatalysts derived from living organisms and evolves them to perform a desired process according to commercial specifications. According to the company, its biocatalysts “are highly efficient ‘super’ enzyme products that speed chemical reactions, replace costly chemical steps and enable low-carbon manufacturing processes that are highly efficient”. Processes enabled by Codexis biocatalysts require relatively low energy inputs and eliminate hazardous reagents and disposal costs, it reports.

Back in November, Renewable Energy Magazine interviewed Mark Emalfarb, founder and CEO of Dyadic International, an enzyme producer that signed a license agreement with Codexis earlier this year covering the use of Dyadic’s C1 expression system for large-scale production of enzymes in certain fields including biofuels. “The Dyadic production system expands our technology platform, providing improved capability and efficiency in enzyme production across many Codexis programs,” said Alan Shaw at the time. While, Emalfarb stated that: “We anticipate our C1 System may help overcome limitations of current techniques, and can be an important tool as Codexis develops new fuels and other clean technology products.”

It is expected that the capital raised from the announced IPO will help Codexis to move forward with renewed vigour to develop clean fuels in collaboration with Shell using Dyadic’s improved enzymes.

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