(Jul. 23) – Versalis, Eni’s chemicals subsidiary leader in the production of elastomers, together with Genomatica (a leading developer of process technology for renewable chemicals), and Novamont (a leader in biodegradable plastics and pioneer in third generation integrated biorefineries) signed a Memorandum of Understanding to establish a strategic partnership to enable production of butadiene from renewable feedstocks. Butadiene is a raw material used in the production of rubber for tires, electrical appliances, footwear, plastics, asphalt modifiers, additives for lubricating oil, pipes, building components, and latex. The partnership, on the basis of which a joint venture will be established, will develop a comprehensive end-to-end process for production of polymer-grade butadiene from biomass. Versalis will hold a majority interest in the joint venture holding company and aims to be the first to build commercial plants using the process technology upon project success. The agreement between the three parties builds upon a series of recent key events including the June 2011 formation of Matrìca, a 50:50 joint venture in bio-based chemicals production between Versalis and Novamont; the announcement that Versalis plans to heavily invest in innovation and capitalize on Elastomers, and Genomatica’s successful production of pound quantities of bio-based butadiene in August 2011. (red)
