Genomatica, an emerging leader in sustainable chemicals, and Mitsubishi Chemical Corporation, the eighth-largest chemical maker in the world, have inked a broad memorandum of understanding (MOU) outlining multiple potential areas of collaboration, as per PR Newswire. "We respect and share Genomatica's vision of the importance of sustainability for the chemical industry – and we recognize their achievements with C4 chemicals, which are strategic to us," said Hiroaki Ishizuka, Representative Director of Mitsubishi Chemical Corporation. "Asia is the fastest-growing chemicals market in the world and we see great potential to deliver bio-based chemicals to this market as a growing complement to our current conventionally-sourced chemicals. We believe that a strategic partnership with Genomatica will provide market-leading economics and quality which will benefit both parties."
"We're gratified and honored to be chosen as a strategic partner by Mitsubishi", saidChristophe Schilling, CEO of Genomatica. "Our interests and core values are fully aligned, as we work to create long-term value. This marks another step forward in being the preferred partner to the chemical industry – giving them the flexibility to use renewable inputs to make the same great products, while delivering superior profitability compared to petrochemical processes and a smaller environmental footprint."