Navigation Links
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 world and we see great potential to deliver bio-based chemicals to this market as a growing complement to our current conventionally-sourced chemicals.  We believe that a strategic partnership with Genomatica will provide market-leading economics and quality which will benefit both parties."

"We're gratified and honored to be chosen as a strategic partner by Mitsubishi", said Christophe Schilling, CEO of Genomatica.  "Our interests and core values are fully aligned, as we work to create long-term value.  This marks another step forward in being the preferred partner to the chemical industry – giving them the flexibility to use renewable inputs to make the same great products, while delivering superior profitability compared to petrochemical processes and a smaller environmental footprint."

Genomatica and Mitsubishi Chemical Corporation will negotiate in good faith the terms of definitive agreements for the collaborations described in the MOU.

About Genomatica

Genomatica is the emerging leader in sustainable chemicals:  'greener' intermediate and basic chemicals made from renewable feedstocks, rather than oil and gas.  The company aims to transform the chemical industry through cost-advantaged, smaller-footprint products as direct replacements in a trillion-dollar market.  Genomatica was named one of '10 Big Green Ideas' by Newsweek, and was featured on Forbes.com.    

Genomatica is moving to demonstration-scale production of its first product, Bio-BDO, through a strategic partnership with Tate & Lyle.  BDO, an intermediate chemical with a $4 billion market worldwide, is used to make spandex, automotive plastics, running shoes and more.  

Genomatica's integrated bio-process engineering platform and extensive intellectual property allow it to rapidly develop organisms and processes to produce dozens of the most significant intermediate and basic chemicals from renewable feedstocks, like sugars, and later, from biomass and syngas.  

Genomatica has raised $84 million from investors including Alloy Ventures, Bright Capital, Draper Fisher Jurvetson, Mitsubishi Chemical Corporation, Mohr Davidow Ventures, TPG Biotech, VantagePoint Venture Partners and Waste Management.  

About Mitsubishi Chemical Corporation

Mitsubishi Chemical Group is Japan's major chemical group and offers a wide variety of products and solutions in three business domains – performance products, health care, and chemicals.

We believe "Sustainability", "Health", and "Comfort" are the key words in the 21st century society, and we aim to amalgamate our lineup of products and technologies into the power of "Chemistry" to greatly contribute to solving the problems that our global society faces.


'/>"/>
SOURCE Genomatica
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. Elekta / Mitsubishi Electric Collaboration Helps Japans Gunma University Heavy Ion Medical Center Launch Advanced Carbon Ion Therapy for Treating Cancer
2. Odyssey Thera Announces Collaboration With Mitsubishi Tanabe Pharma Corporation, and Issuance of Core Patent in Japan
3. Next-generation chemical mapping on the nanoscale
4. Myriant Technologies, Inc. Announces US$60 Million Strategic Equity Investment From PTT Chemical Group
5. New Second Edition of Biotechnology and the Federal Circuit Examines the Courts Decisions on Chemical, Biotechnology, and Pharmaceutical Patent Law Cases
6. Singapore consortium learns from nature to produce new chemical-free, anti-bacteria plastic skins
7. Gov. Jindal Announces Myriant Technologies to Begin Construction of New, Sustainable Specialty Chemical Plant in Lake Providence
8. Agrivida Announces Collaboration With Syngenta Ventures to Deliver Low-Cost Sugars for Cellulosic Biofuels and Biochemicals
9. Chemicals study pinpoints threat to workers lungs
10. Pivoting hooks of graphenes chemical cousin could revolutionize work of electron microscopes
11. Inaugural Pharma Exchange Conference Produced by Informex to Draw Together Milwaukee, Wisconsin Chemical Industry
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/27/2016)... and RESEARCH TRIANGLE PARK, N.C. , ... UTHR ) announced today that Martine Rothblatt ... Therapeutics will provide an overview and update on the ... Annual Health Care Conference. The presentation will ... a.m. Eastern Time, and can be accessed via a ...
(Date:4/27/2016)... ... 2016 , ... A compact PET scanner called NuPETâ„¢ has ... Resonance Imaging) in existing third-party MRI systems. PET and MRI are complementary imaging ... Simultaneous PET/MRI imaging offers a solution to many challenges that face researchers who ...
(Date:4/27/2016)... 27, 2016 ReportsnReports.com adds ... specific focus on US, EU, China ... to the healthcare business intelligence collection of its ... Complete report on the Flow Cytometry market spread ... with 282 tables and figures is now available ...
(Date:4/26/2016)... ... April 26, 2016 , ... Heidelberg Instruments, a ... technology innovation for its Volume Pattern Generator (VPG) line of lithography systems. The ... photomasks as well as a solution for mid volume direct write lithography applications. ...
Breaking Biology Technology:
(Date:4/26/2016)... BANGALORE, India and LONDON ... Infosys Finacle, part of EdgeVerve Systems, a ... ), and Onegini today announced a partnership to ... banking solutions.      (Logo: http://photos.prnewswire.com/prnh/20151104/283829LOGO ... banks to provide their customers enhanced security to ...
(Date:4/15/2016)... , April 15, 2016 ... "Global Gait Biometrics Market 2016-2020,"  report to their ... ) , ,The global gait biometrics market ... 13.98% during the period 2016-2020. Gait ... which can be used to compute factors that ...
(Date:3/31/2016)...  Genomics firm Nabsys has completed a financial  restructuring ... , M.D., who returned to the company in October ... team, including Chief Technology Officer, John Oliver , ... and Vice President of Software and Informatics, Michael ... Dr. Bready served as CEO of Nabsys from 2005-2014 ...
Breaking Biology News(10 mins):