In April 2013, Versalis and Genomatica signed an agreement to create a joint venture for bio-based butadiene. The two companies will work together to develop a complete ‘end-to-end’ process for the on-purpose production of butadiene from non-food biomass.

The resulting process will be licensed across Europe, Asia and Africa by the joint venture. Future licensees, including Versalis, will provide the capital for the construction and operation of their own plants, and be responsible for use and sale of the resulting butadiene.

Versalis aims to be the first to license the process and build commercial plants. It will also provide over $20 million in funding to Genomatica to support development of the integrated process.

This agreement follows and fulfills the steps described in the memorandum of understanding (announced in July 2012).  Versalis, formerly known as Polimeri Europa, is the largest Italian chemical company and a subsidiary of ENI. Additionally, Versalis invested in the Series D financing in Genomatica.

This agreement follows Genomatica’s successful production of pound quantities of bio-based butadiene in August 2011.