Mitsubishi, Genomatica JV bio- BDO production

Mitsubishi, Genomatica JV for bio- BDO production

8:30 PM, 27th February 2012
Mitsubishi, Genomatica JV for bio- BDO production
Dr Christophe Schilling, CEO, Genomatica.

SAN DIEGO, US/TOKYO, JAPAN: Genomatica announced that Mitsubishi Chemical Co has signed an agreement to negotiate definitive agreements for a joint commercial operation in Asia for the production of bio based 1,4-butanediol (BDO) using Genomatica’s process technology. Mitsubishi has made an up-front payment of $3.5 million to Genomatica while the companies continue to work toward completing their definitive agreements, some or all of which may be repaid upon certain conditions.

“We are looking forward to support our partner Mitsubishi as they look to implement and deploy our processes in one of the fastest-growing markets in the world. As a major producer and consumer of BDO and its derivatives, including polybutylene terephthalate (PBT) and polytetramethylene-ether-glycol (PTMG), Mitsubishi brings tremendous market knowledge and application expertise, and is well-positioned to leverage the differentiation that can be gained from a renewable approach to producing BDO,” said Dr Christophe Schilling, CEO, Genomatica.

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