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DSM buys minority stake in US' Oryxe Energy
05.10.2005, 10:16 AM
AMSTERDAM (AFX) - Royal DSM NV said its unit DSM Venturing acquired an interest in Oryxe Energy International Inc, a California-based company that develops, certifies and distributes proprietary additives that improve fuel performance and reduce toxic emissions from the combustion of hydrocarbons.
DSM is taking a minority stake in Oryxe, said DSM spokesman Medard Schoenmaeckers, adding that investments of this nature are generally range from 'one million eur to a few million.'
He declined to comment on the exact size of the stake.
Oryxe is currently commercializing two diesel additive products and solutions for major oil refiners and producers and has additional products in the pipeline for gasoline, residual fuels, jet fuel and coal.
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