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Chemical Article 13 08 12
Chemical Article 13 08 12
Metabolix sees growth in their Mirel PHA plastic used for Mirel production. That was a large part of the decisionmaking process. Metabolix aims initially to produce 10,000 tonnes/year through Antibioticos, a scale sufcient to supply existing customers, while continuing to develop the market. Early this year, Metabolix was forced to nd a new manufacturing partner after US agribusiness
WORTHY VENTURE ADM was to have produced Mirel at a new 50,000 tonne/year (110m lb/year) unit in Clinton, Iowa, US. Metabolix already has 5m lbs of Mirel in inventory produced by ADM. Although ADMs exit was very painful, Peoples said, the partnership was benecial. The education and learning we got in the relationship with ADM about scaling the manufacturing technology, about the level of interest and the challenge in the marketplace really put us in a very good spot, he said. I think it would have been better to have a smaller plan, but Im not sure wed have had the same degree of learning, nor am I sure we would have been able to afford the learning on our own.
Genomatica plans to focus more on licensing its technology as opposed to operating assets, he said. We are positioning ourselves to offer process technologies not to become a producer of chemicals, Schilling said.
IPO STILL A POSSIBILITY Despite the change in plans, Schilling noted the possibility of an IPO as the company moves forward. Genomatica said it has raised $41.5m in private nancing from new investor and partner Versalis, the chemical business of Italybased Eni, and existing investors Alloy Ventures, Draper Fisher Jurvetson, Mohr Davidow Ventures, TPG Biotech, VantagePoint Capital Partners and Waste Management.
The $41.5m nancing will be used partly for the commercialization of the companys bio-based 1,4 butanediol (BDO) technology and the expansion of the companys portfolio, including the newly announced bio-based butadiene (BD) development with Versalis and Italian bioplastic producer Novamont. Genomatica said the technology under this partnership will not use the 1,4 BDO route to produce biobased BD. Schilling said: Genomatica has multiple technologies it is developing to produce butadiene. You can use 1,4 BDO and weve done that in the laboratory, but we think that there are number of different ways to produce biobutadiene that will make a lot more economical sense.