Cargill and Genomatica Team up on Renewable Feedstock
US Agricultural giant Cargill, headquartered in Minneapolis, Minnesota, has made an equity investment in California-based biotech firm Genomatica.
As part of the deal, Cargill has also secured rights to take an additional stake as part of an agreement to co-market its carbohydrate feedstocks for Genomatica’s process technologies and provide production services for the California biotech firm’s licensees and chemical users.
Through the collaboration, Genomatica will gain access to an “innovative way to accelerate deployment and better serve the needs of its customers,” said CEO Christophe Schilling. “This,” he added, “is a natural complement to the innovation, sustainability and cost-advantaged production enabled by our technologies.”
Brian Silvey, CEO of Cargill Corn Milling, said the deal with Genomatica broadens the Minnesota company’s portfolio of sustainable product solutions, allowing customers to produce or distribute chemicals used for industrial applications “faster, more reliable and more cost effectively.”
