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People & Business :: Emerging Companies
Genomatica and Novamont Sign Deal for European Bio-Based BDO JV
12:36 PM MDT | August 18, 2011 | Rebecca Coons
Genomatica (San Diego), a developer of bio-based chemicals, says it has signed a letter of intent with Novamont (Novara, Italy) to form a European butanediol (BDO) joint venture. The BDO would be used by Novamont in its bioplastics operations. Under the terms of the letter of intent, Novamont will provide the necessary capital to convert an existing industrial site in Italy to produce 40 million lbs/year of BDO using Genomatica technology. Novamont will also commit to purchase the first plant’s output, though Genomatica will have an option on an...
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