Enza Biotech, a Sweden-based renewable surfactants manufacturer spun out of Lund University, has been acquired by specialty chemicals company Croda International for an undisclosed sum.
Founded in 2012, Enza Biotech has developed renewable surfactants – compounds that lower the surface tension between two liquids or between a liquid and solid – that have applications in the cosmetics and personal care industry.
The surfactants, called Olmag, serve as an environmentally-friendly alternative to polysorbate, the emulsifiers currently used in many consumer products that have drawbacks such as oxidation and formation of toxic formaldehyde.
Olmag can withstand high temperature without losing its properties, making it possible to heat sterilise pharmaceuticals, which is not possible with polysorbate. This also enables more stable products with fewer side-effects and thus more successful clinical trials.
Croda hopes Enza’s technology will boost its renewable product offering in the personal care, healthcare and crop care markets.
Maria Andersson and Stefan Ulvenlund, co-founders of Enza, will join Croda as full-time employees alongside the spinout’s staff.
Maria Andersson said: “Croda is the perfect fit for our technology due to their commitment to investing in innovative and sustainable solutions.
“With their proven track record in bringing new technologies to market and strong customer relationships, we are confident Enza Biotech will have a bright future. We look forward to working with the Croda team and the new opportunities that will bring.”
Steve Foots, chief executive of Croda, said: “Enza Biotech offers a fantastic opportunity for us to fill an identified technology gap in the surfactants market using natural and renewable raw materials.
“It is a great fit as sustainability underpins our growth strategy and is an area that already sets us apart in the eyes of our customers.”
