Genomatica (San Diego, Calif.; www.genomatica.com), a technology leader for bio-based chemicals, announced it has acquired certain assets of the REG Life Sciences division (REG LS) of Renewable Energy Group, Inc., the largest supplier of advanced biofuels in North America.
Genomatica intends to use these assets to develop a wider range of sustainable chemicals, which in turn are used to make numerous everyday materials and products. The asset acquisition provides Genomatica with its third major product platform, allowing it to expand into household
and industrial cleaning products, and flavors and fragrances, further growing its ingredients for the apparel, packaging and personal care markets. Genomatica will also work with ExxonMobil
to progress the research program for advanced biofuels from biomass started at REG LS, along with Clariant, which recently joined the collaboration.
Genomatica’s acquisition is designed to create more technology solutions to help brands and their suppliers meet increasing consumer demand for sustainable products by incorporating renewable or bio-based chemicals into their product offerings. According to a recent Nielsen
survey, 81% of global consumers say it’s extremely or very important for companies to implement programs to improve the environment, while 73% said they would either definitely or probably change their consumption habits to reduce their impact on the environment. Ninety percent of millennials will pay more for products that contain environmentally friendly or sustainable ingredients.