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People & Business :: Emerging Companies
Mitsubishi Chemical, Genomatica Eye Bio-BDO in Asia
February 27, 2012 | Rebecca Coons
Biobased 1,4-butanediol (BDO) firm Genomatica (San Diego) says Mitsubishi Chemical has agreed to exclusively negotiate definitive agreements for a joint commercial operation in Asia for the production of BDO using Genomatica's process technology. Under the terms of the agreement, Mitsubishi Chemical has made an upfront payment of $3.5 million, some or all of which may be repaid upon certain conditions, while the companies continue to work toward completing a definitive agreement. The current agreement continues until the earlier of June 30, 2012, or the date the...
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