BASF Venture Capital Invests $13.5 Million in U.S.-Based ...

[March 12, 2012]

SAN DIEGO LUDWIGSHAFEN, Germany ?(Business Wire)?

BASF Venture Capital GmbH has invested $13.5 million in Allylix Inc., a
U.S.-based renewable chemicals company. The BASF subsidiary led a $18.2
million financing round, joined by existing investors Tate Lyle
Ventures, Avrio Ventures and Cultivian Ventures.

Allylix has a proprietary technology platform to produce a wide variety
of renewable specialty chemicals, i.e. terpenes and their derivatives,
for several industries including flavor and fragrance, food ingredients,
cosmetics and other markets. The technology, based on fermentation,
allows for the creation of highly pure, renewable compounds that have
previously only been available from natural resources in limited
quantities.

?Our investment in Allylix could allow us to broaden our use of
renewable raw materials for sustainable chemical solutions in the future
and leverage our competency in aroma chemicals, nutrition and cosmetic
chemicals,? said Dr. Daniela Proske, Principal at BASF Venture Capital
America. ?The company has demonstrated the ability to produce
high-quality products at scalable commercial quantities and at a lower
price point, which is one of several compelling reasons to invest in
Allylix.?

?Our biological and cost-competitive manufacturing process for specialty
chemicals, such as aroma chemicals, will address the consumer preference
for affordable and naturally derived products,? said Carolyn Fritz,
Allylix?s President and Chief Executive Officer. ?This round of funding
will support the development and delivery of new compounds in Allylix?s
pipeline, and will allow us to expand the market for our existing
products.?

Terpenes and their derivatives are rarely accessible by chemical
synthesis and have previusly only been available from natural resources
in limited amounts. Allylix?s metabolic and protein engineering
technology platform is protected by 57 patents, and allows the company
to quickly develop and produce by fermentation high-value specialty
chemicals at relatively low investment, and at a lower cost than
traditional production methods.

About Allylix Inc.

Allylix, Inc. is a specialty chemical company developing terpene
products and their derivatives for the flavor and fragrance, food
ingredients, cosmetics, agricultural and other markets. Allylix?s
technology produces high-value natural terpenes in greater quantities,
of higher quality, and at significantly lower cost than traditional
sources. The company?s technology also allows for the production of
novel specialty chemicals, applicable to a wide variety of industries.
For more information, visit www.allylix.com.

About BASF Venture Capital

BASF Venture Capital GmbH was established in 2001 as a wholly owned
subsidiary of BASF Future Business GmbH, Ludwigshafen, Germany, with the
aim of exploring new growth potentials based on investment in startup
companies and funds. More information about BASF Venture Capital GmbH is
available at www.basf-vc.de.

About BASF Corporation

BASF Corporation, headquartered in Florham Park, New Jersey, is the
North American affiliate of BASF SE, Ludwigshafen, Germany. BASF has
more than 16,000 employees in North America, and had sales of $19.9
billion in 2011. For more information about BASF?s North American
operations, visit www.basf.us.

About BASF

BASF is the world?s leading chemical company: The Chemical Company. Its
portfolio ranges from chemicals, plastics, performance products and crop
protection products to oil and gas. We combine economic success, social
responsibility and environmental protection. Through science and
innovation we enable our customers in almost all industries to meet the
current and future needs of society. Our products and system solutions
contribute to conserving resources, ensuring healthy food and nutrition
and helping to improve the quality of life. We have summed up this
contribution in our corporate purpose: We create chemistry for a
sustainable future. BASF posted sales of about ?73.5 billion in 2011 and
had more than 111,000 employees as of the end of the year. BASF shares
are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and
Zurich (AN). Further information on BASF is available on the Internet at www.basf.com.

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