Braskem and Genomatica announced an agreement for the joint development of commercial process technology to make bio-based butadiene from renewable feedstocks.
Under the agreement, Braskem will help fund Genomatica's development work over several years, allocate significant Braskem R&D resources and fund the construction and operation of pilot and demonstration-scale butadiene production plants using the process.
In return, Braskem will receive certain exclusive license rights to use the resulting process technology in the Americas. Genomatica will also receive fees and royalties for each licensed commercial plant.
The new agreement adds significantly to Genomatica's butadiene program, which now includes investments of over $100 million anticipated under current agreements. Program milestones already include the successful production of pounds of butadiene in 2011, and funding from Versalis for Genomatica's development efforts announced in April 2013.
For more information, visit www.genomatica.com.