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Mitsubishi Chemical Corporation Signs Memorandum of Understanding for Strategic Partnership With Genomatica for Sustainable Chemicals in Asia
Date:4/28/2011

SAN DIEGO, April 28, 2011 /PRNewswire/ -- Genomatica, an emerging leader in sustainable chemicals, and Mitsubishi Chemical Corporation, the eighth-largest chemical maker in the world, signed a broad memorandum of understanding (MOU) outlining multiple potential areas of collaboration.  These include:

  1. Study of a joint venture for Bio-BDO production in Asia:  Mitsubishi and Genomatica 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.
  2. Development of additional green intermediate and basic chemicals:  Mitsubishi and Genomatica will discuss collaborating to develop several major chemicals, which are strategic to both companies.
  3. 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.  

Mitsubishi will join Genomatica in a plenary presentation at the BIO World Congress conference on May 11, 2011, titled 'Strategic Partnerships for More Robust Value Chains'.

"We respect and share Genomatica's vision of the importance of sustainability for the chemical industry – and we recognize their achievements with C4 chemicals, which are strategic to us," said Hiroaki Ishizuka, Representative Director of Mitsubishi Chemical Corporation.  "Asia is the fastest-growing chemicals market in the
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SOURCE Genomatica
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