27 February 2012
Overview
Genomatica announced that Mitsubishi Chemical Corporation
has signed an agreement to exclusively negotiate definitive
agreements for a joint commercial operation in Asia for the
the production of BDO using Genomatica's process technology.
Mitsubishi Chemical has made an up-front payment
to Genomatica of $3.5 million
while the companies continue to work toward completing
their definitive agreements, some or all of which may be
repaid upon certain conditions
The agreement continues until the earlier of June 30,2012
or the date the companies execute a definitive agreement
Mitsubishi Chemical Corporation
* Genomatica and Mitsubishi are both focused on
bringing greater sustainability to the chemical industry.
* Genomatica is a technology leader, especially in the
strategically important field of C4 Chemicals
* Genomatica's BDO process has the potential to
provide market-leading ecnomics and sustainability
consistent with Mitsubishi's concept about
the global quality of life that will be made possible
through sustainable technologies and
through breakthrough scientific advances in human healthcare
Genomatica
* Genomatic is looking forward to supporting Mitsubishi as
they look to implement and deployment Genomatica's processes
in one of the fastest-growing markets in the world.
* As a major producer and consumer of BDO and
its derivatives, including
- PBT
- PTMG
Mitsubishi brings tremedous market knowledge and
application expertise and is well-positioned to leverage
the differentiation that can be gained from a
renewable approach to producing BDO
