SAN DIEGO, April 7, 2014 (GLOBE NEWSWIRE) -- Genomatica has been named a winner of the 2014 Bloomberg New Energy Pioneers Award for developing process technologies to produce widely-used chemicals from alternative feedstocks rather than petroleum. Genomatica's processes are designed to produce the exact same chemicals while delivering better economics and a smaller environmental footprint.
Every year, Bloomberg recognizes ten game-changing companies for innovation, momentum and potential global impact in industries including bioenergy, energy efficiency, digital energy, solar and water. Winners are judged by industry experts that are advised by Bloomberg New Energy Finance technology experts. According to Bloomberg, "Genomatica caught the judges' attention for its technology, innovative licensing strategy and the fact that it is already disrupting the market, with fast-growing revenues and impressive partnerships in place."
Genomatica has the distinction of driving the first genuine commercialization of a biobased process for a major, high-volume intermediate chemical. Genomatica has gained support for its process technology through licenses to BASF and Novamont , and partnerships with many of the chemical industry's largest firms. Companies including Lanxess , DSM , Toray , and Far Eastern New Century have proven successful production of their downstream products using Genomatica's first commercialized process, GENO BDO ™. Genomatica is also developing processes for additional major chemicals, with butadiene as its next target. To date, Genomatica has announced partnerships with Braskem and Versalis , with over $100 million in industry support for its butadiene development program.
"Customers want more sustainable everyday products and the chemical industry is eager for technologies that make it easier to deliver those products," said Christophe Schilling, Ph.D., CEO of Genomatica. "Biotechnology now offers a valuable option. By licensing Genomatica's process technologies to the mainstream chemical industry – with its strengths in capital, production, distribution and applications – we help accelerate the transition to more sustainable products."
About Genomatica
Genomatica is a widely-recognized technology leader for the chemical industry. It develops manufacturing processes that enable its licensee partners to produce the world's most widely-used chemicals a 'better way,' from alternative feedstocks, with better economics and greater sustainability than petroleum-based processes.
Genomatica has the distinction of driving the first genuine commercialization of a biobased production process for a major high-volume intermediate chemical. Its GENO BDO™ process for producing butanediol (BDO) has been licensed by BASF and by Novamont . Many of the largest firms in the chemical industry have publicly confirmed that BDO produced using Genomatica's process can be used the exact same way to make downstream products as petro-based chemicals, simplifying and accelerating adoption. Genomatica is developing processes for additional major chemicals; the next is for butadiene , with Versalis and Braskem as partners, and over $100 million in industry support.
Genomatica's recent recognition includes the Kirkpatrick Award , for the most noteworthy chemical engineering technology commercialized in the world; the EPA Presidential Green Chemistry Challenge Award ; the 2014 Bloomberg New Energy Pioneer award; the Wall Street Journal Technology Innovation award ; and being voted #1 Hottest three years in a row by Biofuels Digest.
For more information: For Genomatica: Rob Adler, , 415.984.1970 x0104
