On April 11, Versalis and Genomatica signed an agreement to establish a joint venture for the production of butadiene from renewable non-food sources. The new company will be the sole owner of the technology in Europe, Asia and Africa, while future licensees, including Versalis, will be required to provide the necessary capital to build and operate their facilities and will be responsible for selling the butadiene produced. Versalis will invest more than 20 million dollars in the development of the process technology and intends to be the first to exercise its right to use the license to build commercial plants.
This joint venture agreement, which was preceded by the signing of a memorandum of understanding in July 2012, brings together Genomatica's expertise in biotechnologies, in particular relating to the modification of microorganisms and the fermentation of sugars, and the know-how of Versalis (a leading producer of butadiene derivatives) in the fields of catalysis process development and process engineering, both of which are necessary for implementing the technology for the production of biobutadiene.
"The experience that we, at Versalis, have in the application sectors, especially in the field of elastomers, and our capacity to handle industrial plants make us the ideal partner for Genomatica. This joint venture will allow Versalis to start an innovative process that will see us combining traditional butadiene production, in which we remain one of the European leaders, with the new opportunities offered by the application of biotechnologies in the chemical industry. Of the various available technologies we examined, the one provided by Genomatica was found to be the one that comes closest to meeting the needs of the market", remarked Daniele Ferrari, CEO of Versalis.
The joint venture represents a further step forward in Versalis's new strategy, which involves investment in innovation and in the elastomer business. Indeed, its serious commitment to  green chemistry dates back to 2011 and its creation, together with Novamont, of the joint venture Matrìca, in order to build, in Porto Torres (Sardinia), one of the world's largest green chemistry centres producing biointermediates, biolubricants, bioadditives and bioplastics.
Versalis has also recently signed an agreement with Yulex to form a partnership to produce guayule-based biorubber materials for consumer, medical and industrial applications, and to launch an industrial production complex in southern Europe. In view of this agreement, Versalis has recently signed an agreement with Pirelli to conduct a joint research project on the use of guayule-based biorubber in the production of tyres.