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codexis

Biofuel firm Codexis opens at low end in IPO

Biotech company Codexis, which sells catalysts for biofuel production, went public on the stock market on Thursday, opening at the low end of its anticipated price range.

The Redwood City, Calif.-based company sold 6 million shares on Nasdaq for $13, raising $78 million. It had planned to sell them between $13 and $15. The company, which has a market capitalization of about $441 million, had originally hoped for an initial public offering in 2008, according to reports.

Instead, its debut marks this year's first IPO for a U.S.-based green-tech company.

Codexis has customers in the pharmaceutical … Read more

Shell extends biofuels deal with 'super enzyme' maker Codexis

Fuels giant Royal Dutch Shell said on Wednesday that it has expanded its development partnership with Codexis to build advanced biofuels.

As part of the five-year deal, Shell will take an equity stake in the 5-year-old company and a seat on its board.

Shell said the extension of the existing research with Codexis will focus on using non-food biomass sources to make "high-performance fuels."

Rather than target ethanol production through this partnership, Shell intends to make hydrocarbons from plants--that is, low-carbon liquid fuels that closely resemble existing fuels.

Codexis has a process that allows it to create what … Read more