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Wednesday - March 27, 2019

Covestro and Genomatica launch partnership for sustainable growth

High-performance materials from plants

Plants as sustainable raw material: Materials manufacturer Covestro and biotechnology company Genomatica have joined forces to research and develop high-performance materials based on renewable feedstocks. With their collaboration announced on Wednesday, both partners are aiming to reduce the use of fossil-based resources such as crude oil. These are today still the most common carbon and raw material sources of the chemical and plastics industries. Using carbon from plants instead would help reduce CO2 emissions and close the carbon loop in another move towards a circular economy.

This long term partnership involves teams from both companies working together to drive commercially-focused innovations. Genomatica will deploy its strengths in developing industrial-scale bioprocesses to produce widely-used chemicals. Covestro complements the collaboration with strong know-how in chemical process technology and application development. This initiative is another example of Covestro’s approach to drive innovation by sustainability.

Reducing dependence on fossil raw materials

“The market is showing increasing interest in products based on renewable raw materials,” said Dr. Klaus Schäfer, Chief Technology Officer of Covestro. “Being able to increasingly derive key materials from biomass is essential for making our industry less dependent on fossil raw materials and market fluctuations. With this, we are pursuing our vision of making the world a brighter place.”

Christophe Schilling, CEO of US-based Genomatica, added: “We look forward to supporting Covestro in its efforts and providing our expertise in harnessing the power of biotechnology to bring much-needed change to many segments of the chemical industry.”

About Covestro:
With 2018 sales of EUR 14.6 billion, Covestro is among the world’s largest polymer companies. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive, construction, wood processing and furniture, and electrical and electronics industries. Other sectors include sports and leisure, cosmetics, health and the chemical industry itself. Covestro has 30 production sites worldwide and employs approximately 16,800 people (calculated as full-time equivalents) at the end of 2018.

About Genomatica:
Genomatica is a widely-recognized leader in bioengineering and aims to lead a transition to more sustainable materials. It develops bio-based process technologies that enable a better way to produce widely-used chemicals, from alternative feedstocks, with better economics, sustainability and performance. Genomatica has earned widespread acclaim for its technology; has commercialized processes for the chemical butanediol (for biodegradable plastics and apparel) and for butylene glycol (cosmetics and personal care); and is working on bio-nylon. Awards include the Kirkpatrick Award, for “the most noteworthy chemical engineering technology commercialized in the world” and the ICIS Innovation Award for its Brontide™ butylene glycol. To learn more, visit www.genomatica.com.

Find more information at www.covestro.com.
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Forward-looking statements
This news release may contain forward-looking statements based on current assumptions and forecasts made by Covestro AG. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Covestro’s public reports which are available at www.covestro.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.