Wednesday, February 9, 2011
Genomatica, Waste Management In Research Deal
San Diego-based Genomatica, a developer of renewable chemical production technology and processes, has inked a strategic joint development agreement with Waste Management, the firms announced this morning. According to the two, they will advance Genomatica's technology and manufacturing processes to produce intermediate and basic chemicals from syngas made from municipal solid waste. Financial terms of the deal were not disclosed.
The two companies said that Genomatica will create a manufacturing process which converts syngas--synthetic gas made from natural gas--into other chemicals. Syngas is harvested from anaerobic digestion of waste, gasification of coal, and landfill capture. Waste Management is one of the biggest waste hauling and recycling firms in North America. Genomatica is venture backed by Alloy Ventures, Draper Fisher Jurvetson, Mohr Davidow ventures, and TPG Biotech, and has raised $40M in funding.