Biofuels Digest has ranked Sweetwater Energy Inc., a renewable sugar producer, as both a 2013 Hot 30 Biochemical Company and a 2013 Hot 50 Biofuel Company.
Rochester-based Sweetwater, one of the youngest companies on either list, debuted at No. 27 on the Hot 50 Biofuels ranking, and at No. 22 on the Hot 30 Biochemicals ranking from a total of more than 4,000 eligible companies.
Both lists are compiled each year by the staff at Biofuels Digest. Sweetwater’s appearance this year was largely due to $450 million in contracts signed since the beginning of the year, the company said.
“It’s a privilege to be recognized in this way by the industry,” says Arunas Chesonis, Sweetwater chairman and CEO, in a statement. “We’ve been flying under the radar for a couple of years now, and we knew once we came up and began signing these contracts, it was going to cause some ripples in the industry.”
Sweetwater extracts sugars from many types of plant material as well as from waste carbon dioxide. Those sugars are in essence a renewable alternative to petroleum because most products built from petroleum—such as plastics, fuels, and many chemicals—can also be built from Sweetwater’s sugars, the company said.
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