A partnership between AkzoNobel and cleantech company Photanol – which aims to harness the power of the sun to make chemicals – has won a top award at the 2015 WBM Bio Business Awards.

The collaboration, announced in September, was named Bio-Based Chemical Collaboration of the Year at a ceremony staged in Amsterdam. Held annually, the awards program was launched to recognize business excellence and innovation in the bio-based industry.

The prize was awarded to AkzoNobel and Photanol for their ongoing work focused on creating sustainable technology which mimics the way plants use photosynthesis. Combining AkzoNobel’s processing technology expertise and Photanol’s existing proprietary technology, the aim is to produce “green” chemical building blocks that will eventually replace some of the raw materials AkzoNobel currently obtains from fossil-based production.

“Our pioneering work with Photanol has the potential to significantly reduce our carbon footprint and we’re delighted that such an exciting collaboration has been recognized with this important award,” said Marco Waas, AkzoNobel’s Director of RD&I and Technology.

“Winning the award also demonstrates that our Planet Possible agenda of doing more with less is making great progress, and we remain committed to working with key partners in order to make our global activities even more sustainable, resulting in benefits both for ourselves and our customers.”