Croda cut the ribbon on its Centre of Innovation for Marine Biotechnology last week. The center is based at PEI’s Nautilus Biosciences, a wholly owned subsidiary of Croda.
The acquisition of Nautilus in the first quarter of the current financial year and continued investment in the new center will accelerate Croda’s research and product development program to identify sustainable, natural sources of functional ingredients for the personal care industry, among others.
“Croda is a company that values innovation and invests in new technologies to deliver value to our customers today and in the future,” said Sandra Breene, President, Personal Care, Croda International. “The acquisition of Nautilus is part of our journey to expand from being a manufacturer of specialty chemicals into an organisation that embraces biotechnology as the answer to many of our customers and the consumer needs for new actives in a truly sustainable way.”