SAN DIEGO, Oct. 16, 2012 (GLOBE NEWSWIRE) -- Genomatica was named winner today of the Wall Street Journal Technology Innovation Award in the Materials category. The company was honored with first place for its new manufacturing processes for high-volume intermediate and basic chemicals from renewable feedstocks rather than oil and natural gas. Chosen among 536 applications, Genomatica's processes are among the Wall Street Journal's top innovations this year.
Genomatica's process technologies produce the exact same chemicals to 'green' the manufacturing value chains for thousands of everyday products (e.g. sports apparel, tires, and running shoes) 'at source,' with better economics and a smaller environmental footprint. Its business model of licensing these technologies facilitates more rapid deployment of the technology and is helping the industry transition to renewable feedstocks and more sustainable products. The first commercial-scale plant that uses Genomatica's process to make butanediol (BDO) is scheduled to begin production in 2013. Genomatica has also demonstrated processes for production of its second target chemical, butadiene. The company has partnered with industry leaders including Mitsubishi Chemical, Novamont, Versalis, Tate & Lyle, Beta Renewables, and Waste Management, to enable rapid, wide-spread industry and global impact.
Recognition from the Wall Street Journal also adds to Genomatica's growing list of achievements which include winner of the EPA Presidential Green Chemistry Challenge Award, voted the number one company in Biofuels Digest's Top 30 in Renewable Chemicals, and named a Top 20 Best Place to Work in Life Sciences by The Scientist.
"Genomatica believes that our technology is highly distinctive and can create renewably-sourced chemicals for production of plastics, fibers, foams and other materials," said Christophe Schilling, Ph.D., CEO of Genomatica. "We have the market opportunity, the technology, the partners and the team to continue to execute and accelerate our business plan to be a technology leader for the global chemical industry."
Genomatica is a technology leader for the chemical industry. It delivers new manufacturing processes that enable its partners to produce intermediate and basic chemicals from renewable feedstocks. These chemicals serve as the basis for making substantially all of the products that make modern life possible. Genomatica's processes are designed to achieve better economics with enhanced sustainability and a smaller environmental footprint than petroleum-based manufacturing processes. Genomatica is developing a pipeline of manufacturing processes for the production of these chemicals, and expects the first commercial-scale BDO plant that utilizes its processes to begin production in 2013.
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