Over the years, the Bio-based Materials and Chemicals (BBMC) space has seen its fair share of ups and downs. In 2007, venture capital investment in the space reached a peak and the field was further buoyed by high oil prices. However, the financial crash in 2008 and influx of shale gas, changed the bio-based landscape. As it started to recover, mergers, acquisitions, and reorganizations dotted the field (e.g., Allylix and Virdia) and companies realigned their strategies to accommodate changing market landscapes (e.g., Virent and Sapphire Energy).
