Mitsubishi Chemical, a major chemical producer, has signed a memorandum of understanding (MOU) with Genomatica, a sustainable chemicals company. The MOU highlights several areas of partnership between the two companies.
Both companies will explore the option of establishing a joint venture to construct the first Bio-BDO production plant in Asia. The new JV facility will employ Genomatica's technology and Mitsubishi's expertise in manufacturing, Bio-BDO applications and marketing. Genomatica and Mitsubishi will also discuss the development of basic and intermediate green chemicals. An equity investment in Genomatica has been made by Mitsubishi
Mitsubishi Chemical’s Representative Director, Hiroaki Ishizuka stated that Asia is a rapidly growing chemicals market, which offers a great opportunity to supply bio-based chemicals to this region.
Christophe Schilling, Chief Executive Officer of Genomatica, commented that the company is happy to be selected as Mitsubishi’s preferred partner and the partnership will help Genomatica to enhance its position in the chemical industry.
Both companies will discuss the terms of the deals related to the partnerships described in the MOU.