Company Profile
Virent Energy Systems, Inc.
Company Overview
Virent Energy Systems is the leading developer of advanced catalytic biomass conversion technologies for the production of renewable chemicals and biofuels. Virent’s patented BioFormingTM technology platform efficiently and economically reforms carbohydrates into a variety of hydrocarbon-based products which today are primarily produced from fossil fuels. The Company is positioned to become a key player in the emerging renewable energy and chemical markets. Virent, whose investors include Cargill and Honda, is located in Madison, Wisconsin.
Company History
Our Story
Virent was founded in 2002 to commercialize the aqueous phase reforming (APR) process, an innovative technology which generates hydrogen from sugar, as originally published in the journal Nature in 2002. Researchers at Virent have since further advanced the technology into the BioForming® process, which combines APR with other technologies to produce renewable liquid fuels, fuel gases, and other chemicals.
In early 2006, Virent made ground-breaking discoveries by expanding the BioForming technology to convert plant sugars into hydrocarbon molecules like those produced at petroleum refineries. These high-energy hydrocarbon mixtures can then be used directly or blended seamlessly to make conventional liquid fuels. Gasoline was the first liquid fuel Virent produced using this technology, followed shortly thereafter by diesel and jet fuel.
Since this discovery, the BioForming process has advanced rapidly, exceeding milestones for yield, product composition, and cost. These developments have fueled Virent’s dramatic growth in number of highly skilled employees and pilot plants housed in a state of the art catalytic biorefining facility. Virent has received significant commercial interest and counts Cargill and Honda among its leading investors. The company has entered into key strategic industrial collaborations, including with Royal Dutch Shell for the development and commercialization of biogasoline. This collaboration will accelerate the technology’s time to market and enable broad commercial penetration.
Virent has raised over $30M in equity financing with its latest round in the fall of 2007. The company has also attracted $11M in federal funding including a second Advanced Technology Program grant from the National Institute of Standards and Technology in September of 2007. This grant is to develop effective and economical methods to break down non-food cellulosic biomass into sugars and other chemical intermediates for further processing into biofuels.
Virent’s growing partnerships with major energy, automotive, and agricultural companies, in addition to expanding global interests, continue to validate this game-changing technology.
Notable Accomplishments / Recognition
To read Virent press releases and media coverage go to: http://www.virent.com/News/press_releases.html.
PRESS RELEASES
02-03-10 Virent to Enhance Advanced Biofuels Competitiveness with $2.4M in Recovery Act Funds
06-22-09 Virent Earns Presidential Green Chemistry Challenge Award
12-08-08 Virent Named Technology Pioneer by the World Economic Forum
10-23-08 Virent's Sugars to Hydrocarbons Technology Wins Innovation Award
09-15-08 Virent Discloses New Pathways to Biofuels
05-16-08 Virent Named to Red Herring North America 100
03-26-08 Shell and Virent Announce Collaboration to Develop Biogasoline
10-01-07 Virent Awarded Federal Advanced Technology Program Grant
09-06-07 Virent Raises $21 Million in Venture Financing Round
05-24-07 Shell Hydrogen LLC and Virent Energy Systems, Inc. Announce Agreement to Manufacture Hydrogen Using Biomass
11-01-06 Virent Energy Systems, Inc. Receives $2 Million Dollar USDA-DOE Grant
Benefits
What We Offer
We recognize that our success is due to the contributions of every employee. Joining our team is a truly unique opportunity to help build an enduring company while making our vision of a more sustainable, carbon neutral world a reality. We seek world class candidates who are motivated to make a difference.
Employees at Virent enjoy competitive compensation, a rich benefits program, and opportunities for career advancement. Our benefits include:
- Stock Options
- Paid Time Off
- Medical Insurance
- Dental Insurance
- Life Insurance
- Vision Insurance
- Disability Insurance
- 401K