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Indianapolis-based Calumet Specialty Products Partners LP announced that it has acquired Irvine, California-based startup Biosynthetic Technologies LLC. Terms were not disclosed.
Biosynthetic Technologies has developed a proprietary process for converting the fatty acids in plant and animal oils into high-performance synthetic oils that can be used in industrial lubricants, personal-care items and other chemical sectors.
Calumet said it plans to use the biosynthetic technology at its existing manufacturing facility in Missouri.•
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