Mitsubishi Chemical, Genomatica collaborate Asia market

Mitsubishi Chemical, Genomatica collaborate for Asia market

2:39 PM, 17th June 2011
Mitsubishi Chemical, Genomatica collaborate for Asia market

The partnership includes joint venture for first Asian commercial Bio-BDO plant, research and development of additional chemicals and equity investment. 

SAN DIEGO, US:  Mitsubishi Chemical Corporation and Genomatica, signed a broad memorandum of understanding (MOU) outlining multiple potential areas of collaboration. The two companies will will explore forming a joint venture to build the first commercial plant in Asia for Bio-BDO. This plant would use Genomatica’s direct, one-step technology and leverage Mitsubishi’s leadership in BDO applications and sales, as well as their manufacturing expertise. 

“We share Genomatica’s vision of the importance of sustainability for the chemical industry and recognize their achievements with C4 chemicals. Asia is the fastest-growing chemicals market in the world and we see great potential to deliver bio-based chemicals to this market,” said Hiroaki Ishizuka, Representative Director, Mitsubishi Chemical Corporation.

The companies will also consider development of additional green intermediate and basic chemicals, collaborating to develop several major chemicals, which are strategic to both companies. Additionally, they will evaluate an equity investment in Genomatica: Mitsubishi made an equity investment in Genomatica as part of Genomatica’s recently-announced $ 45 million series C-1 funding.

© WOC News 

 

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