Renmatix, a company that creates biofuel from sugar, is setting up shop in King of Prussia, according to BusinessWeek.
Gov. Tom Corbett traveled to suburban Philadelphia on Tuesday to welcome a biomass energy company that plans to move its headquarters from Georgia and create 150 jobs over the next three years as it tries to develop ways to turn products such as wood and waste into fuel.
Venture capitalist John Doerr moderated a discussion of alternative energy inside the warehouse building that Renmatix -- which has another facility in Kennesaw, Ga. -- will be calling home.
The company is developing ways to access the fermentable sugars that are the foundation of biofuels. The effort, along with other alternative energy efforts, are all part of helping the country become less dependent on foreign oil, Doerr said.
Source: BusinessWeek
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