Taiyo Oil Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo; President & CEO: Yutaka Oka; hereinafter “Taiyo Oil”) has received a third-party allocation of shares regarding Bacchus Bio innovation Co., Ltd. (Headquarters: Kobe City, Hyogo Prefecture; Representative Director: Hideaki Miyake; hereinafter “B2i Co.”).
B2i Co. is a bio-venture originating from Kobe University that receives intellectual property rights and personnel transfers related to advanced biotechnologies from Kobe University. It carries out activities such as commissioned services related to the production of useful compounds with microorganisms and so on, and the development of in-house products, and is aiming for the realization of Japan’s first full-fledged integrated biofoundry*.
On a global level, the concept of a “bioeconomy” has started to spread, and this is aimed at using the latest technologies and biological resources to solve global issues such as climate change while maintaining economic development. Integrating digital technologies and biotechnologies, which have been advancing rapidly in recent years, has made it possible to apply these to industries related to biological functions, so an era is being entered that can be considered the Fifth Industrial Revolution.
Among the fields of the bioeconomy, “bio-production systems (production using biological functions)” is expected to become a growing market area, and this has the potential to become the new standard for manufacturing industries, with applications in various fields such as manufacturing, agriculture, and healthcare.
Based on the development functions and networks of B2i Co., Taiyo Oil will aim to participate not only in conventional petroleum and petrochemistry businesses, but also bioeconomy fields that are based on production businesses in which biological functions are used. Furthermore, Taiyo Oil will continue to proactively work on expanding promising business fields that are in harmony with the global environment in order to help with the achievement of the Sustainable Development Goals (SDGs).
*Biofoundry : system for producing useful compounds by using biological functions
Overview of Bacchus Bio innovation Co., Ltd. Co., Ltd.
Location: 1-1 Rokkodaicho, Nada Ward, Kobe City, Hyogo 657-0013
Representative: Chief Operating Officer Hideaki Miyake
Established: March 18, 2020
Content of business: integrated biofoundry