Genomatica delays commercial-scale production to 2013

| February 14, 2012

In California, in an amended version of its S-1 IPO registration filing, Genomatica pushed back the timeline for commencing commercial-scale production of renewable butanediol (BDO) from 2012 to 2013.

In other highlights contained within the revision, filed yesterday with the SEC, the company wrote: ” In January 2012, we entered into an exclusivity agreement with Mitsubishi Chemical to exclusively negotiate definitive agreements for a joint commercial operation in Asia for the production of BDO using our process technology. Pursuant to the terms of the agreement, the exclusivity period shall end on June 30, 2012.”

The company also updated on its strategic partnership with Novamont: “In December 2011, we entered into a joint venture and license agreement with Novamont for the commercial-scale production of BDO in Europe using our process technology. During the initial stage of the agreement, Novamont will perform demonstration-scale test runs in 2012 and will convert an existing facility at its expense to enable an annual production commercial-scale capacity of approximately 40 million pounds of BDO in 2013 using our process technology.

In updating on  its relationship with Beta Renewables, the company wrote: “In December 2011, we entered into a license agreement with Beta Renewables, a joint venture involving Chemtex, TPG Capital and TPG Biotechnology Partners, under which Beta Renewables granted us the exclusive right to use the PROESA technology for the production of BDO through any fermentation-based process.”



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Category: Chems & Materials, Producer News

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