"This announcement is a demonstration of Eastman's continued investment in innovation and our commitment to delivering sustainable solutions to our customers," said Greg Nelson, senior vice president and chief technology officer.
"I am confident that TetraVitae's patented bio-catalysis technology will provide Eastman an excellent platform for the development of a range of bio-based processes that will strengthen our sustainable product offerings."
TetraVitae is a developer of renewable chemicals, including bio-based butanol and acetone, and the Eastman subsidiary believes the acquisition is an important step in helping it reach its sustainability goals and incorporating the technology into its own products.
Terms of the transaction were not disclosed.