Covestro and Genomatica Partner on Renewables
German engineering plastics producer Covestro and US-based biotech Genomatica have agreed a long-term partnership to research and develop high-performance materials based on renewable feedstocks and reduce dependence on fossil-based resources.
Using carbon from plants instead of from fossil fuels would help reduce CO2 emissions and close the carbon loop and represent another step toward a circular economy Covestro said.
The two companies plan to concentrate on driving commercially-focused innovations.
Genomatica will contribute to the collaboration its expertise in developing industrial-scale bioprocesses to produce widely-used chemicals, with Covestro adding its know-how in chemical process technology and application development.
“The market is showing increasing interest in products based on renewable raw materials,” said Klaus Schäfer, chief technology officer at Covestro. “Being able to increasingly derive key materials from biomass is essential for making our industry less dependent on fossil raw materials and market fluctuations.”
Genomatica CEO Christophe Schilling said his company looks forward to supporting Covestro in its sustainability drive by helping it harness the power of biotechnology “to bring much-needed change to many segments of the chemical industry.”