27 February 2012 15:50 [Source: ICIS news]
HOUSTON (ICIS)--US manufacturing technology firm Genomatica and Mitsubishi Chemical have started negotiations to jointly build a bio-based butanediol (BDO) plant in Asia, Genomatica said on Monday.
Mitsubishi has paid Genomatica $3.5m (€2.6m) as they continue negotiations. The money may be repaid based on certain stipulations, Genomatica said.
The companies plan to negotiate until 30 June 2012.
Neither company was available for comment.
The BDO plant was a project in a memorandum of understanding both companies signed in 2011.
The other project was the development of green intermediate and basic chemicals.
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