Versalis Invests $20M in Genomatica, Launches JV for Bio-based Butadiene
Renewable chemicals’ #1 hottie lands a signature JV, and a tidy investment from the Italian chemical giant.
In Italy, Versalis and Genomatica announced the establishment of a technology joint venture for bio-based butadiene from non-food biomass. The resulting process will be licensed across Europe, Asia and Africa by the newly-created joint venture.
Versalis — the chemical subsidiary of Eni — aims at being the first to license the process and build commercial plants. It will also provide over $20 million in funding to Genomatica to support development of the integrated end-to-end process.