Novamont, Genomatica JV BioBDO plant.

Novamont, Genomatica JV for BioBDO plant.

12:11 AM, 24th January 2012
Novamont, Genomatica JV for BioBDO plant.
Christophe Schilling, CEO, Genomatica.

SAN DIEGO, US/ NOVARA, ITALY: Genomatica and Novamont announced that they have signed a definitive agreement establishing a joint venture for the first industrial plant in Europe producing butanediol (BDO) directly from renewable feedstocks. This follows the announcement on 18 August 2011 of a letter of intent between the companies. Novamont will have a majority of the equity in the JV, and Genomatica a minority interest. Under the agreement, Novamont is converting an existing facility in Adria, Italy to use Genomatica’s BDO process.

Novamont is financing the plant conversion and will operate the plant, which is expected to have a production capacity of approximately 40 million pounds per year. Initial production is expected in 2013. Novamont has committed to purchasing all of the output from the plant, while Genomatica may purchase a portion at its discretion to support further market development. “Genomatica’s process technologies enable a new approach to chemical production, smaller-scale, capital-efficient manufacturing from renewable feedstocks that we believe fulfills customer needs across the value chain,” said Christophe Schilling, CEO, Genomatica.

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