SAN DIEGO, April 24, 2014 (GLOBE NEWSWIRE) -- Genomatica has been selected as the winner of the 2014 Bioeconomy Leadership Award. The Symposium on Biotechnology for Fuels and Chemicals (SBFC) chose Genomatica as the company that has significantly advanced the development of a renewable resource-based fuels and chemicals economy. Genomatica will be honored at an award ceremony on May 1, 2014 during the 36th Symposium on Biotechnology for Fuels and Chemicals in Clearwater Beach, Florida.
Genomatica was recognized for driving the first genuine commercialization of a biobased process for the production of a high-volume intermediate chemical (1,4-butanediol, or BDO). Genomatica succeeded in going from concept to commercial reality in five years by developing a highly-efficient organism and industrial process; gaining confirmation and support from numerous large companies regarding application usability; executing at commercial-scale, by cost-effectively producing millions of pounds; and signing BASF and Novamont as first licensees, broadening the reach and impact of their technology.
Genomatica is also developing processes for additional major chemicals, with butadiene as its next target, and over $100 million in total support for its development program.
"We're honored to be recognized for helping drive commercialization of biotechnology within the mainstream chemical industry," said Christophe Schilling, Ph.D., CEO of Genomatica. "This is great recognition coming from this group of esteemed technology leaders comprised of previous award winners. This gives us further motivation to continue to harness biotechnology to bring disruptive innovations to the global chemical industry."
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.