Dow Chemical Co. and Diversa Corp. name their 50/50 joint venture Innovase LLC.

Midland, Mich. and San Diego, Calif. (PRNewswire) -- The Dow Chemical Co. and Diversa Corp. of San Diego, Calif, announced that their 50/50 joint venture formed in June of 2000 has been named Innovase LLC. The joint venture is focusing on discovery and development of enzymes with improved characteristics for industrial and consumer applications. Innovase LLC contracts with Diversa to discover and evolve novel enzymes, and with Dow for gene expression, fermentation, process development and manufacturing.

Today's industrial enzymes are used in a variety of commercially significant applications, including detergents, starch processing, textile manufacturing, pulp and paper processing, and oil and gas production. The use of enzymes in industrial applications has been limited because many potential applications fall outside the temperature, pH, or chemical stability range of the enzymes available today. By utilizing Diversa's discovery and evolution technologies, Innovase is developing proprietary, high-value enzymes to improve existing applications as well as to create new applications for use in such areas as water treatment, industrial cleaning, and biofilm removal.