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| - Yokogawa Electric Corporation (TOKYO:6841) announces the launch of Yokogawa Bio Frontier Inc. to develop businesses related to the production and sales of innovative plant-derived biomass materials, as well as associated licensing and consulting activities. The new subsidiary will officially kick off business operations on March 22. Yokogawa Bio Frontier will focus on developing and commercializing high value-added plant-based biomass materials, such as nanocellulose and lignin monomer, which can be used to substitute chemicals and materials currently derived from fossil resources, thereby enabling a sustainable carbon cycle. The company will apply Yokogawa's long experience in industrial automation to develop highly efficient extraction and production processes and facilities, and will market biomass materials to a wide range of customers in the chemical, food & beverage, pharmaceutical, and other industries. The bioeconomy is considered to be an important pillar for building a sustainable society, and is one of the focus areas defined in Yokogawa's long-term business framework. The rapidly expanding biomass materials market has been identified as a field in which Yokogawa can leverage its core technologies and global sales and service network. To obtain technologies and expertise in this field, Yokogawa has already taken steps such as investing in and partnering with AlgaEnergy, a Spanish company that is a technology leader in the production and application of microalgae, and Bloom Biorenewables SA, a Swiss startup focusing on the utilization of biomass with its highly efficient lignin extraction technology. Yokogawa Bio Frontier will work with these and other strategic partners to contribute to the development of a circular economy. About Yokogawa Bio Frontier Inc. -- Location: Musashino City, Tokyo, Japan -- President and CEO: Mitsuhiro Iga -- Capital: 100M JPY (Yokogawa Electric Corporation 100%) -- Established: January 2021 -- Start of operation: March 22, 2021 -- Business: Biomass material production and sales, licensing, and related consulting. -- Website: www.yokogawa.com/ybf About Yokogawa Founded in 1915, Yokogawa engages in broad-ranging activities in the areas of measurement, control, and information. The industrial automation business provides vital products, services, and solutions to a diverse range of process industries including oil, chemicals, natural gas, power, iron and steel, and pulp and paper. With the life innovation business, the company aims to radically improve productivity across the pharmaceutical and food industry value chains. The test & measurement, aviation, and other businesses continue to provide essential instruments and equipment with industry-leading precision and reliability. Yokogawa co-innovates with its customers through a global network of 114 companies spanning 62 countries, generating US$3.7 billion in sales in FY2019. For more information, please visit www.yokogawa.com . The names of corporations, organizations, products, services and logos herein are either registered trademarks or trademarks of Yokogawa Electric Corporation or their respective holders. View source version on businesswire.com: Contact Yokogawa Electric Corporation Public Relations, Integrated Communications Center Yokogawa-pr@cs.jp.yokogawa.com © 2021 Business Wire, Inc. Disclaimer: This material is not an AFP editorial material, and AFP shall not bear responsibility for the accuracy of its content. In case you have any questions about the content, kindly refer to the contact person/entity mentioned in the text of the release.
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