By Joshua Stein

 

BASF SE said Tuesday that it has invested in Chinese industrial synthetic-biotech company, Bota Biosciences Ltd.

The German chemicals company said its subsidiary, BASF Venture Capital, is investing in Bota Bio, a company that develops biotechnology to enable biomanufacturing of common household and industrial products.

"With our investment in this promising young company, we are strengthening BASF's activities related to sustainability and enhancing the group's potential for innovation in the dynamic Asian markets," Markus Solibieda, BASF Venture Capital managing director, said.

BASF didn't disclose the financial details of the investment.

 

Write to Joshua Stein at joshua.stein@wsj.com

 

(END) Dow Jones Newswires

March 16, 2021 04:20 ET (08:20 GMT)

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