SAN DIEGO, Sept. 30, 2021 (GLOBE NEWSWIRE) -- Today, sustainability leader Genomatica celebrated major recognitions for a series of prestigious awards honoring sustainability innovations in chemistry and biotechnology. The company was recognized by industry leading publications Chemical Week and ICIS for placing sustainability at the heart of its business and driving more environmentally conscious progress in a nearly $4 trillion USD chemicals industry. The recognition, which Genomatica has earned in back-to-back years, comes on the heels of multiple deals with major brands and partners seeking to incorporate Genomatica’s technology to improve the sustainability profile of their products.
Chemical Week and ICIS are core industry publications, boasting a combined nearly 250 years of providing trusted news and analysis. Today, the company celebrates that its technology was recognized by Chemical Week’s Sustainability Award as a Best Sustainable Product by an Emerging Company and by ICIS’ Innovation Awards as a Process with the Best Benefit to the Environment and Sustainability. This year’s recognitions follow additional merits from the publications in 2020, when Genomatica was recognized for a Best Sustainable Initiative and Best Sustainable Process, respectively. The awards highlight a milestone year for Genomatica, with the company announcing a landmark partnership with lululemon to bring its renewably-sourced plant-based nylon into lululemon’s products as well as a licensing deal with Cargill and HELM to scale bio-BDO production to a combined global production capacity of 100,000 tons annually. Fueled by a $118M Series C funding round led by leading life science investor Novo Holdings, the company is driving toward reducing greenhouse gas emissions by 100 million tons per year.
“Genomatica’s mission is to deliver biotech innovations that make a major impact on sustainability and provide a more environmentally-conscious, cost competitive alternative to fossil fuel-derived products,” said Genomatica CEO Christophe Schilling. “We are honored by this recognition from leading organizations for our work expanding our technology to make beloved products more sustainable.”
Genomatica replaces widely-used chemicals and materials, traditionally derived from petroleum, with plant-based alternatives that are cost-competitive, equivalent in performance and can reduce environmental impact by up to 93% compared to fossil fuel-based production. The company is focused on scaling production and accelerating commercialization with partners around the globe.
Genomatica is harnessing biology to remake everyday products and materials built by and for the planet. The company is developing and scaling sustainable materials derived from plant- or waste-based feedstocks instead of fossil fuels to help brands deliver on their climate goals and our planet’s needs. Genomatica has already commercialized sustainable materials used in plastics, spandex and cosmetics, and is working on plant-based nylon, household cleaners and more. To learn more, visit www.genomatica.com.