The investments come from Casdin Capital, Viking Global Investors (Genomatica’s largest shareholder) and Ginkgo Bioworks. Genomatica expand its relationship with Ginkgo to accelerate biotechnology innovations.
Genomatica will focus on everyday plastics, personal care products, and textiles and fibers.
Eli Casdin, Chief Investment Officer of Casdin Capital said
“Biotechnology promises to enable the chemical industry in remarkable ways. That said, only businesses with strong fundamentals and commercial products will be successful. Genomatica is one of the few companies with that profile and fresh capital now enables them to grow that position substantially.”
Here are some processes Genomatica delivers and works on:
- biobased 1,4-butanediol (BDO) (ingredient for biodegradable, compostable plastic bags, coffee capsules and food packaging). Genomatica’s supplied GENO BDO™ process to Novamont’s since late 2016.
- biobased Brontide™ butylene glycol used to make a range of more natural cosmetic and personal care products.
- Genomatica is advancing a new process to make 100% biobased nylon-6 for clothing and carpets. In this context, Genomatica’s is partners of the EFFECTIVE consortium, a dozen firms including brands such as H&M, Carvico, Vaude, and Balsan.
Jason Kelly, CEO of Ginkgo Bioworks said
“Genomatica has delivered high-volume bio-based chemicals to market at costs competitive with petrochemical production, not just once but multiple times. We’re doubling down on renewable chemicals through our close relationship with Genomatica – and we’re honored to continue to partner with the best in the market.”
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